JPMorgan Chase & Co. Lowers Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

JPMorgan Chase & Co. cut its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 21.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,734,957 shares of the real estate investment trust’s stock after selling 1,026,922 shares during the period. JPMorgan Chase & Co. owned about 1.95% of Equity LifeStyle Properties worth $248,748,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. National Pension Service acquired a new position in Equity LifeStyle Properties during the 4th quarter worth $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Equity LifeStyle Properties in the 4th quarter valued at about $30,000. Board of the Pension Protection Fund acquired a new position in shares of Equity LifeStyle Properties during the fourth quarter worth about $33,000. MassMutual Private Wealth & Trust FSB increased its stake 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 buying an additional 171 shares during the period. Finally, UMB Bank n.a. raised its holdings in Equity LifeStyle Properties by 68.2% in the fourth quarter. UMB Bank n.a. now owns 898 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 364 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $66.70 on Tuesday. The stock has a market cap of $12.75 billion, a P/E ratio of 34.21, a P/E/G 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. The stock has a 50 day moving average of $66.97 and a two-hundred day moving average of $68.47. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 EPS for the quarter, meeting 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, 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 business also recently declared 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 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is 105.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ELS shares. Robert W. Baird increased their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $73.00 in a research report on Tuesday, January 21st. Evercore ISI decreased their target price on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada lowered their price target on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a report on Wednesday, January 29th. Three research 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 company’s stock. According to MarketBeat, Equity LifeStyle Properties has an average rating of “Moderate Buy” and an average target price of $73.78.

Equity LifeStyle Properties 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.