Naviter Wealth LLC Sells 2,046 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Naviter Wealth LLC reduced its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 15.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,102 shares of the real estate investment trust’s stock after selling 2,046 shares during the period. Naviter Wealth LLC’s holdings in Equity LifeStyle Properties were worth $745,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELS. PNC Financial Services Group Inc. raised its position in Equity LifeStyle Properties by 5.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 18,644 shares of the real estate investment trust’s stock valued at $1,242,000 after purchasing an additional 922 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Equity LifeStyle Properties during the fourth quarter worth approximately $268,000. Carmel Capital Partners LLC lifted its holdings in shares of Equity LifeStyle Properties by 3.6% in the 4th quarter. Carmel Capital Partners LLC now owns 6,533 shares of the real estate investment trust’s stock worth $435,000 after acquiring an additional 230 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Equity LifeStyle Properties in the 4th quarter valued at $6,762,000. Finally, Arizona State Retirement System boosted its stake in shares of Equity LifeStyle Properties by 1.4% in the 4th quarter. Arizona State Retirement System now owns 51,466 shares of the real estate investment trust’s stock valued at $3,428,000 after purchasing an additional 706 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on ELS shares. Deutsche Bank Aktiengesellschaft raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. Robert W. Baird increased their target price on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Evercore ISI decreased their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada lowered their price objective on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.78.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock opened at $68.56 on Friday. The company has a market cap of $13.10 billion, a PE ratio of 35.16, a P/E/G ratio of 3.02 and a beta of 0.79. The business has a 50 day moving average of $66.48 and a 200 day moving average of $69.07. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $76.60. 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 (NYSE:ELS) last issued its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. As a group, equities research analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.00%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 28th. Equity LifeStyle Properties’s payout ratio is presently 105.64%.

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.