Vestcor Inc Sells 3,885 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Vestcor Inc cut its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 69.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,724 shares of the real estate investment trust’s stock after selling 3,885 shares during the period. Vestcor Inc’s holdings in Equity LifeStyle Properties were worth $115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. bought a new stake in shares of Equity LifeStyle Properties in the 4th quarter valued at approximately $774,000. HighTower Advisors LLC lifted its stake in shares of Equity LifeStyle Properties by 2.1% in the 4th quarter. HighTower Advisors LLC now owns 11,446 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 238 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Equity LifeStyle Properties by 51.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 113,007 shares of the real estate investment trust’s stock valued at $7,526,000 after purchasing an additional 38,401 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Equity LifeStyle Properties in the 4th quarter valued at approximately $659,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Equity LifeStyle Properties by 5.2% in the 4th 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 during the last quarter. 97.21% of the stock is owned by institutional investors.

Equity LifeStyle Properties Trading Up 0.2 %

Shares of NYSE ELS opened at $68.38 on Wednesday. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $66.64 and a two-hundred day simple moving average of $68.87. The firm has a market cap of $13.07 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. Analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $2.06 dividend on an annualized basis and a yield of 3.01%. Equity LifeStyle Properties’s payout ratio is 105.64%.

Analyst Ratings Changes

Several research firms have recently issued reports on ELS. Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Robert W. Baird raised their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $72.00 to $80.00 in a research note on Thursday, January 2nd. Royal Bank of Canada decreased their price target on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 29th. Finally, Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.78.

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.