First Trust Advisors LP Sells 55,095 Shares of Equity Lifestyle Properties, Inc. $ELS

First Trust Advisors LP decreased its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 7.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 648,628 shares of the real estate investment trust’s stock after selling 55,095 shares during the period. First Trust Advisors LP owned about 0.33% of Equity Lifestyle Properties worth $39,372,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Crossmark Global Holdings Inc. boosted its position in shares of Equity Lifestyle Properties by 1.6% during the third quarter. Crossmark Global Holdings Inc. now owns 14,229 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 220 shares in the last quarter. M&G PLC raised its holdings in Equity Lifestyle Properties by 8.2% in the third quarter. M&G PLC now owns 3,293 shares of the real estate investment trust’s stock worth $201,000 after purchasing an additional 249 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in Equity Lifestyle Properties by 27.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,250 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 269 shares during the period. Gabelli Funds LLC lifted its position in Equity Lifestyle Properties by 1.3% during the third quarter. Gabelli Funds LLC now owns 21,327 shares of the real estate investment trust’s stock valued at $1,295,000 after buying an additional 283 shares during the period. Finally, Profund Advisors LLC boosted its holdings in shares of Equity Lifestyle Properties by 6.9% during the 3rd quarter. Profund Advisors LLC now owns 4,425 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 285 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties Stock Up 1.3%

ELS opened at $67.88 on Friday. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.72 and a beta of 0.75. The firm has a 50 day moving average price of $64.90 and a 200-day moving average price of $62.62. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $69.28. 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 declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s payout ratio is currently 102.49%.

Analyst Upgrades and Downgrades

ELS has been the topic of a number of recent research reports. Truist Financial upped their target price on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the stock a “hold” rating in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft cut shares of Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research report on Tuesday, January 20th. Barclays reissued an “overweight” rating and set a $71.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Thursday, February 5th. Wall Street Zen downgraded shares of Equity Lifestyle Properties from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Equity Lifestyle Properties in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.42.

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.