Equity Lifestyle Properties, Inc. $ELS Stake Lowered by Aberdeen Group plc

Aberdeen Group plc cut its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 54.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,994 shares of the real estate investment trust’s stock after selling 95,354 shares during the period. Aberdeen Group plc’s holdings in Equity Lifestyle Properties were worth $4,760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in Equity Lifestyle Properties by 1.8% during the 2nd quarter. State Street Corp now owns 13,268,436 shares of the real estate investment trust’s stock valued at $824,943,000 after buying an additional 237,090 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Equity Lifestyle Properties by 114.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,375,154 shares of the real estate investment trust’s stock worth $326,272,000 after buying an additional 2,868,678 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Equity Lifestyle Properties by 12.2% during the second quarter. JPMorgan Chase & Co. now owns 4,724,515 shares of the real estate investment trust’s stock valued at $291,363,000 after acquiring an additional 515,063 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Equity Lifestyle Properties by 0.5% in the second quarter. Geode Capital Management LLC now owns 4,071,627 shares of the real estate investment trust’s stock valued at $250,491,000 after purchasing an additional 20,600 shares in the last quarter. Finally, Norges Bank purchased a new stake in Equity Lifestyle Properties in the 2nd quarter worth about $164,862,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Price Performance

Shares of ELS stock opened at $67.52 on Friday. The firm has a market capitalization of $13.09 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 3.73 and a beta of 0.76. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $63.12 and a 200-day moving average of $61.92. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $70.35.

Equity Lifestyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a $0.5425 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.17 annualized dividend and a yield of 3.2%. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s payout ratio is presently 102.49%.

Analyst Ratings Changes

Several research analysts have weighed in on ELS shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equity Lifestyle Properties in a research report on Thursday, January 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $75.00 price target (up from $72.00) on shares of Equity Lifestyle Properties in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Tuesday, January 20th. Robert W. Baird set a $73.00 target price on Equity Lifestyle Properties in a report on Friday, January 30th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $70.00 price target on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Equity Lifestyle Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.27.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.