Mirae Asset Global Investments Co. Ltd. Sells 833 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,802 shares of the real estate investment trust’s stock after selling 833 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Equity Lifestyle Properties were worth $452,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ELS. Beese Fulmer Investment Management Inc. lifted its stake in shares of Equity Lifestyle Properties by 2.6% in the first quarter. Beese Fulmer Investment Management Inc. now owns 7,995 shares of the real estate investment trust’s stock valued at $533,000 after buying an additional 200 shares during the period. Bessemer Group Inc. lifted its position in shares of Equity Lifestyle Properties by 121.4% in the 4th quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 210 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Equity Lifestyle Properties by 1.0% during the 4th quarter. Corient Private Wealth LLC now owns 22,861 shares of the real estate investment trust’s stock worth $1,523,000 after purchasing an additional 230 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Equity Lifestyle Properties by 7.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,256 shares of the real estate investment trust’s stock worth $217,000 after purchasing an additional 232 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Equity Lifestyle Properties by 2.1% during the fourth quarter. HighTower Advisors LLC now owns 11,446 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 238 shares during the period. 97.21% of the stock is owned by institutional investors.

Equity Lifestyle Properties Stock Up 0.8%

Shares of NYSE ELS opened at $62.12 on Friday. Equity Lifestyle Properties, Inc. has a 12-month low of $58.86 and a 12-month high of $76.60. The firm’s 50-day simple moving average is $63.30 and its 200 day simple moving average is $65.22. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.14. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 3.35 and a beta of 0.72.

Equity Lifestyle Properties (NYSE:ELS) last announced its earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.83. The company had revenue of $327.21 million during the quarter, compared to the consensus estimate of $391.34 million. Equity Lifestyle Properties had a net margin of 23.99% and a return on equity of 21.99%. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, research analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity Lifestyle Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.06 annualized dividend and a dividend yield of 3.32%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 106.74%.

Insider Buying and Selling at Equity Lifestyle Properties

In related news, CFO Paul Seavey sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $64.72, for a total value of $647,200.00. Following the transaction, the chief financial officer owned 78,162 shares in the company, valued at $5,058,644.64. This trade represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of Equity Lifestyle Properties from $78.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group began coverage on Equity Lifestyle Properties in a report on Tuesday, April 8th. They set a “buy” rating and a $80.00 price objective for the company. Truist Financial reduced their target price on shares of Equity Lifestyle Properties from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Barclays started coverage on shares of Equity Lifestyle Properties in a research report on Thursday, May 29th. They set an “equal weight” rating and a $70.00 target price for the company. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.90.

Equity Lifestyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.