Nuveen Asset Management LLC Reduces Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Nuveen Asset Management LLC lowered its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 26.7% in the fourth quarter, HoldingsChannel reports. The firm owned 2,431,168 shares of the real estate investment trust’s stock after selling 886,387 shares during the period. Nuveen Asset Management LLC’s holdings in Equity LifeStyle Properties were worth $161,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Equity LifeStyle Properties by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust’s stock valued at $1,668,586,000 after purchasing an additional 388,888 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Equity LifeStyle Properties by 172.0% in the fourth quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust’s stock worth $404,319,000 after buying an additional 3,838,809 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Equity LifeStyle Properties by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust’s stock valued at $339,713,000 after acquiring an additional 147,332 shares in the last quarter. Invesco Ltd. raised its holdings in Equity LifeStyle Properties by 592.7% in the fourth quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust’s stock valued at $260,955,000 after acquiring an additional 3,352,584 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Equity LifeStyle Properties by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust’s stock valued at $258,536,000 after acquiring an additional 53,775 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Insider Buying and Selling at Equity LifeStyle Properties

In other Equity LifeStyle Properties news, CFO Paul Seavey sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total value of $647,200.00. Following the sale, the chief financial officer now owns 78,162 shares in the company, valued at approximately $5,058,644.64. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ELS. Jefferies Financial Group began coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, April 8th. They issued a “buy” rating and a $80.00 target price on the stock. Truist Financial cut their price objective on Equity LifeStyle Properties from $72.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. BMO Capital Markets reduced 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. Royal Bank of Canada lowered their price target on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Equity LifeStyle Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.33.

Equity LifeStyle Properties Trading Up 2.1%

Shares of NYSE ELS opened at $63.76 on Friday. Equity LifeStyle Properties, Inc. has a 12-month low of $58.86 and a 12-month high of $76.60. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 3.02 and a beta of 0.76. 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 50 day simple moving average is $65.22 and its 200 day simple moving average is $67.04.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, hitting the consensus estimate of $0.83. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. The firm had revenue of $327.21 million for the quarter, compared to analyst estimates of $391.34 million. During the same period last year, the company earned $0.59 earnings per share. Equities research analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.06 annualized dividend and a yield of 3.23%. Equity LifeStyle Properties’s dividend payout ratio is presently 106.74%.

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.