Equity Lifestyle Properties, Inc. $ELS Position Trimmed by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 8.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 379,322 shares of the real estate investment trust’s stock after selling 37,005 shares during the quarter. Allianz Asset Management GmbH’s holdings in Equity Lifestyle Properties were worth $23,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Equity Lifestyle Properties by 204.1% in the 2nd quarter. Allworth Financial LP now owns 660 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 443 shares during the period. IFP Advisors Inc increased its stake in shares of Equity Lifestyle Properties by 874.7% in the second quarter. IFP Advisors Inc now owns 848 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 761 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of Equity Lifestyle Properties by 27.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,250 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 269 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Equity Lifestyle Properties by 21.9% during the third quarter. Farther Finance Advisors LLC now owns 1,974 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 354 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in Equity Lifestyle Properties by 595.1% during the second quarter. Hantz Financial Services Inc. now owns 2,113 shares of the real estate investment trust’s stock valued at $130,000 after purchasing an additional 1,809 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Stock Down 1.2%

Shares of Equity Lifestyle Properties stock opened at $65.63 on Friday. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $70.35. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average price of $62.04 and a two-hundred day moving average price of $61.44. The stock has a market capitalization of $12.72 billion, a P/E ratio of 32.65, a PEG ratio of 3.69 and a beta of 0.76.

Equity Lifestyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.17 annualized dividend and a dividend yield of 3.3%. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s payout ratio is currently 102.49%.

Analyst Ratings Changes

ELS has been the topic of several research reports. Bank of America raised Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Tuesday. UBS Group set a $67.00 price objective on Equity Lifestyle Properties and gave the stock a “buy” rating in a report on Thursday, January 8th. Truist Financial set a $66.00 price objective on shares of Equity Lifestyle Properties and gave the company a “hold” rating in a research report on Tuesday, January 20th. Barclays reissued an “overweight” rating and issued a $71.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Equity Lifestyle Properties from a “sell” rating to a “hold” rating in a report on Sunday, February 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.19.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.