Insider Selling: Equity Lifestyle Properties (NYSE:ELS) Director Sells $201,660.00 in Stock

Equity Lifestyle Properties, Inc. (NYSE:ELS) Director David Contis sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of the transaction, the director owned 14,890 shares in the company, valued at $1,000,905.80. This represents a 16.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Equity Lifestyle Properties Stock Down 1.6%

Shares of NYSE:ELS opened at $64.21 on Monday. The business’s 50 day moving average is $65.66 and its 200 day moving average is $62.94. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $69.15. The stock has a market cap of $12.45 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 3.57 and a beta of 0.75. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.30.

Equity Lifestyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.17 dividend on an annualized basis and a yield of 3.4%. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s payout ratio is presently 102.49%.

Hedge Funds Weigh In On Equity Lifestyle Properties

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Equity Lifestyle Properties by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 25,477,480 shares of the real estate investment trust’s stock valued at $1,544,190,000 after buying an additional 592,013 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Equity Lifestyle Properties by 303.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock worth $966,648,000 after acquiring an additional 11,999,874 shares during the period. State Street Corp grew its stake in shares of 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 worth $824,943,000 after acquiring an additional 237,090 shares during the period. Cohen & Steers Inc. increased its holdings in Equity Lifestyle Properties by 26.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock worth $643,331,000 after acquiring an additional 2,246,622 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Equity Lifestyle Properties by 32.5% in the 3rd quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock worth $414,194,000 after acquiring an additional 1,674,281 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ELS. Truist Financial increased their target price on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Robert W. Baird set a $73.00 price target on shares of Equity Lifestyle Properties in a report on Friday, January 30th. Wall Street Zen lowered shares of Equity Lifestyle Properties from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Royal Bank Of Canada reissued an “outperform” rating and set a $70.00 target price on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. Finally, UBS Group set a $67.00 target price on Equity Lifestyle Properties and gave the company a “buy” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.63.

About Equity Lifestyle Properties

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.