DAVENPORT & Co LLC Sells 1,083 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

DAVENPORT & Co LLC cut its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 12.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,675 shares of the real estate investment trust’s stock after selling 1,083 shares during the period. DAVENPORT & Co LLC’s holdings in Equity Lifestyle Properties were worth $512,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in Equity Lifestyle Properties by 121.4% in the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 210 shares during the period. Farther Finance Advisors LLC grew its position in Equity Lifestyle Properties by 78.7% in the first quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $96,000 after acquiring an additional 635 shares during the period. Signaturefd LLC grew its position in Equity Lifestyle Properties by 32.9% in the fourth quarter. Signaturefd LLC now owns 1,854 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 459 shares during the period. Blue Trust Inc. grew its position in Equity Lifestyle Properties by 351.6% in the first quarter. Blue Trust Inc. now owns 1,865 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 1,452 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of Equity Lifestyle Properties by 137.5% during the first quarter. UMB Bank n.a. now owns 2,133 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 1,235 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity Lifestyle Properties Stock Down 0.2%

ELS stock opened at $62.02 on Tuesday. 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 business has a 50 day moving average price of $63.26 and a two-hundred day moving average price of $65.18. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 3.35 and a beta of 0.72. Equity Lifestyle Properties, Inc. has a twelve month low of $58.86 and a twelve month high of $76.60.

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

Equity Lifestyle Properties Announces Dividend

The firm 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 dividend of $0.515 per share. 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 is currently 106.74%.

Insider Activity at Equity Lifestyle Properties

In other news, CFO Paul Seavey sold 10,000 shares of Equity Lifestyle Properties stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $64.72, for a total transaction of $647,200.00. Following the completion of the transaction, the chief financial officer directly owned 78,162 shares in the company, valued at approximately $5,058,644.64. The trade was a 11.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. BMO Capital Markets decreased their target price on Equity Lifestyle Properties from $78.00 to $77.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Barclays assumed coverage on Equity Lifestyle Properties in a report on Thursday, May 29th. They set an “equal weight” rating and a $70.00 target price on the stock. Truist Financial decreased their target price on Equity Lifestyle Properties from $72.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Jefferies Financial Group assumed coverage on Equity Lifestyle Properties in a report on Tuesday, April 8th. They set a “buy” rating and a $80.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.90.

Equity Lifestyle Properties 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.