David Contis Sells 3,000 Shares of Equity Lifestyle Properties (NYSE:ELS) Stock

Equity Lifestyle Properties, Inc. (NYSE:ELS) Director David Contis sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total transaction of $201,660.00. Following the sale, the director owned 14,890 shares of the company’s stock, valued at $1,000,905.80. This trade represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Equity Lifestyle Properties Stock Performance

Shares of NYSE:ELS traded down $1.01 during midday trading on Friday, hitting $64.21. The company’s stock had a trading volume of 2,427,645 shares, compared to its average volume of 2,064,729. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04. The stock’s 50 day simple moving average is $65.66 and its 200 day simple moving average is $62.90. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 3.69 and a beta of 0.75. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $69.15.

Equity Lifestyle Properties Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, March 27th. Equity Lifestyle Properties’s dividend payout ratio is presently 107.96%.

Analyst Upgrades and Downgrades

ELS has been the topic of several research analyst reports. UBS Group set a $67.00 price objective on shares of Equity Lifestyle Properties and gave the stock a “buy” rating in a research note on Thursday, January 8th. Robert W. Baird set a $73.00 price target on shares of Equity Lifestyle Properties in a report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Equity Lifestyle Properties in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Equity Lifestyle Properties from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Truist Financial upped their price objective on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the company a “hold” rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $69.63.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Equity Lifestyle Properties during the 3rd quarter worth about $1,243,000. AEGON ASSET MANAGEMENT UK Plc increased its stake in Equity Lifestyle Properties by 910.4% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 100,390 shares of the real estate investment trust’s stock valued at $6,091,000 after acquiring an additional 90,454 shares during the period. Creative Planning raised its position in Equity Lifestyle Properties by 191.3% in the second quarter. Creative Planning now owns 30,420 shares of the real estate investment trust’s stock worth $1,876,000 after purchasing an additional 19,977 shares in the last quarter. Argosy Lionbridge Management LLC acquired a new position in Equity Lifestyle Properties in the third quarter worth about $3,703,000. Finally, Westwood Holdings Group Inc. lifted its stake in Equity Lifestyle Properties by 23.2% during the second quarter. Westwood Holdings Group Inc. now owns 229,092 shares of the real estate investment trust’s stock worth $14,128,000 after purchasing an additional 43,089 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

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.