Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 26.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,431,168 shares of the real estate investment trust’s stock after selling 886,387 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.27% of Equity LifeStyle Properties worth $161,916,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ELS shares. Deutsche Bank Aktiengesellschaft raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Truist Financial reduced their price target 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. Evercore ISI lowered their price objective on 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. 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 research report on Tuesday, April 22nd. Finally, Royal Bank of Canada decreased 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 note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.33.

Insider Activity

In related news, CFO Paul Seavey sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total transaction of $647,200.00. Following the completion of the sale, the chief financial officer now directly owns 78,162 shares of the company’s stock, valued at approximately $5,058,644.64. This represents a 11.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Equity LifeStyle Properties Price Performance

ELS stock opened at $63.76 on Friday. The company has a market cap of $12.19 billion, a PE 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 has a 50-day moving average price of $65.22 and a two-hundred day moving average price of $67.04. Equity LifeStyle Properties, Inc. has a 12-month low of $58.86 and a 12-month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, meeting the consensus estimate of $0.83. The business had revenue of $327.21 million for the quarter, compared to analyst estimates of $391.34 million. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. During the same period in the previous year, the company posted $0.59 EPS. As a group, research analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Announces Dividend

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

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.