Swedbank AB Lowers Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Swedbank AB lessened its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 325,305 shares of the real estate investment trust’s stock after selling 40,000 shares during the quarter. Swedbank AB owned approximately 0.17% of Equity LifeStyle Properties worth $21,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ELS. JPMorgan Chase & Co. boosted its position in Equity LifeStyle Properties by 3.2% during 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 purchasing an additional 147,332 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Equity LifeStyle Properties by 0.9% during the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock valued at $331,707,000 after buying an additional 39,864 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Equity LifeStyle Properties by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,833,596 shares of the real estate investment trust’s stock valued at $273,014,000 after buying an additional 65,191 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Equity LifeStyle Properties by 3.7% in 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 buying an additional 87,609 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Equity LifeStyle Properties by 370.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust’s stock worth $166,182,000 after buying an additional 1,834,491 shares during the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $65.12 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 3.28 and a beta of 0.79. The firm’s 50 day simple moving average is $67.67 and its 200-day simple moving average is $69.52. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Equity LifeStyle Properties had a net margin of 23.97% and a return on equity of 24.10%. Analysts expect that Equity LifeStyle Properties, Inc. will post 2.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ELS. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and raised their target price for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Compass Point raised their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Robert W. Baird boosted their price target on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday. Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Evercore ISI cut their price target on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.90.

Equity LifeStyle Properties Company 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.