Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by National Bank of Canada FI

National Bank of Canada FI decreased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 33.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,622 shares of the real estate investment trust’s stock after selling 79,144 shares during the quarter. National Bank of Canada FI owned 0.08% of Equity LifeStyle Properties worth $10,564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jacobs Levy Equity Management Inc. bought a new stake in Equity LifeStyle Properties during the third quarter valued at $559,000. Investment Management Corp of Ontario grew its position in shares of Equity LifeStyle Properties by 48.2% during the 3rd quarter. Investment Management Corp of Ontario now owns 5,841 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 1,900 shares during the last quarter. Quarry LP raised its stake in Equity LifeStyle Properties by 228.8% during the third quarter. Quarry LP now owns 1,519 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 1,057 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in Equity LifeStyle Properties by 130.4% in the third quarter. Kovitz Investment Group Partners LLC now owns 61,390 shares of the real estate investment trust’s stock worth $4,380,000 after acquiring an additional 34,741 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Equity LifeStyle Properties by 267.9% in the third quarter. Jane Street Group LLC now owns 232,698 shares of the real estate investment trust’s stock worth $16,601,000 after acquiring an additional 169,445 shares during the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Equity LifeStyle Properties Price Performance

NYSE ELS opened at $65.94 on Friday. The firm has a market capitalization of $12.60 billion, a PE ratio of 33.82, a P/E/G ratio of 3.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The company’s 50 day simple moving average is $66.98 and its 200 day simple moving average is $68.28.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. As a group, equities research analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.12%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 28th. Equity LifeStyle Properties’s dividend payout ratio is presently 105.64%.

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.