New York Life Investment Management LLC Sells 23,328 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

New York Life Investment Management LLC reduced its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 53.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,028 shares of the real estate investment trust’s stock after selling 23,328 shares during the period. New York Life Investment Management LLC’s holdings in Equity LifeStyle Properties were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in Equity LifeStyle Properties by 172.0% during the 4th quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust’s stock worth $404,319,000 after acquiring an additional 3,838,809 shares during the last quarter. JPMorgan Chase & Co. grew its position in Equity LifeStyle Properties by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust’s stock worth $339,713,000 after acquiring an additional 147,332 shares during the last quarter. Victory Capital Management Inc. grew its position in Equity LifeStyle Properties by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock worth $331,707,000 after acquiring an additional 39,864 shares during the last quarter. Geode Capital Management LLC grew its position in Equity LifeStyle Properties by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,833,596 shares of the real estate investment trust’s stock worth $273,014,000 after acquiring an additional 65,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Equity LifeStyle Properties by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,441,191 shares of the real estate investment trust’s stock worth $174,155,000 after acquiring an additional 87,609 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $72.00 to $80.00 in a research report on Thursday, January 2nd. Robert W. Baird increased their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada reduced their price target on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 29th. Three 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.78.

Equity LifeStyle Properties Stock Performance

Shares of Equity LifeStyle Properties stock opened at $68.96 on Tuesday. The company has a market capitalization of $13.18 billion, a PE ratio of 35.36, a PEG ratio of 3.02 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $66.37 and its 200 day simple moving average is $69.12.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. On average, research analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, March 28th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 105.64%.

About Equity LifeStyle Properties

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.