Allstate Corp Sells 7,107 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Allstate Corp decreased its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,942 shares of the real estate investment trust’s stock after selling 7,107 shares during the period. Allstate Corp’s holdings in Equity LifeStyle Properties were worth $3,260,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Equity LifeStyle Properties by 43.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 171 shares during the last quarter. Carmel Capital Partners LLC boosted its position in Equity LifeStyle Properties by 3.6% during the 4th quarter. Carmel Capital Partners LLC now owns 6,533 shares of the real estate investment trust’s stock worth $435,000 after buying an additional 230 shares during the period. Corient Private Wealth LLC grew its holdings in Equity LifeStyle Properties by 1.0% during the 4th quarter. Corient Private Wealth LLC now owns 22,861 shares of the real estate investment trust’s stock worth $1,523,000 after acquiring an additional 230 shares during the last quarter. HighTower Advisors LLC increased its position in 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 acquiring an additional 238 shares during the period. Finally, iA Global Asset Management Inc. raised its stake in shares of Equity LifeStyle Properties by 7.2% during the fourth quarter. iA Global Asset Management Inc. now owns 3,800 shares of the real estate investment trust’s stock valued at $253,000 after acquiring an additional 256 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Price Performance

Shares of ELS opened at $66.39 on Friday. The firm has a market cap of $12.69 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. The business’s 50 day moving average price is $66.97 and its two-hundred day moving average price is $68.58.

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 (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%. On average, equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.10%. This is a positive change 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%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ELS. Evercore ISI reduced their price objective on shares of 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. Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. 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. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $73.00 in a report on Tuesday, January 21st. Finally, Jefferies Financial Group upgraded shares of 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 report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.