Canada Pension Plan Investment Board Sells 45,600 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Canada Pension Plan Investment Board reduced its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,425,375 shares of the real estate investment trust’s stock after selling 45,600 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Equity LifeStyle Properties were worth $94,930,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MML Investors Services LLC boosted its stake in shares of Equity LifeStyle Properties by 10.4% during the 3rd quarter. MML Investors Services LLC now owns 8,202 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 770 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Equity LifeStyle Properties by 95.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 32,578 shares of the real estate investment trust’s stock valued at $2,311,000 after acquiring an additional 15,899 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Equity LifeStyle Properties during the 3rd quarter worth approximately $72,000. Destination Wealth Management bought a new position in shares of Equity LifeStyle Properties in the 3rd quarter worth approximately $262,000. Finally, Tidal Investments LLC raised its position in shares of Equity LifeStyle Properties by 15.8% in the 3rd quarter. Tidal Investments LLC now owns 112,115 shares of the real estate investment trust’s stock worth $7,998,000 after acquiring an additional 15,310 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. Evercore ISI lowered their price target on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a research report on Tuesday, January 28th. Robert W. Baird upped their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. BMO Capital Markets upgraded shares of Equity LifeStyle Properties from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a report on Friday, April 4th. Finally, Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equity LifeStyle Properties has a consensus rating of “Moderate Buy” and an average price target of $74.20.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $65.32 on Friday. The company has a 50 day moving average of $66.53 and a 200 day moving average of $67.75. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15. Equity LifeStyle Properties, Inc. has a twelve month low of $58.86 and a twelve month high of $76.60. The firm has a market cap of $12.49 billion, a P/E ratio of 33.50, a PEG ratio of 3.02 and a beta of 0.72.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share 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%. As a group, research analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was 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%.

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.