Bridgefront Capital LLC Trims Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Bridgefront Capital LLC cut its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 36.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,135 shares of the real estate investment trust’s stock after selling 5,849 shares during the period. Bridgefront Capital LLC’s holdings in Equity LifeStyle Properties were worth $675,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ELS. Wilmington Savings Fund Society FSB purchased a new position in Equity LifeStyle Properties during the 3rd quarter worth $72,000. Franklin Resources Inc. grew its holdings in shares of Equity LifeStyle Properties by 7.9% during the third quarter. Franklin Resources Inc. now owns 809,801 shares of the real estate investment trust’s stock worth $55,034,000 after buying an additional 59,243 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Equity LifeStyle Properties by 56.5% during the third quarter. Principal Financial Group Inc. now owns 2,232,008 shares of the real estate investment trust’s stock worth $159,232,000 after buying an additional 805,681 shares during the last quarter. JPMorgan Chase & Co. increased its position in Equity LifeStyle Properties by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust’s stock valued at $339,713,000 after acquiring an additional 147,332 shares during the period. Finally, GAMMA Investing LLC raised its stake in Equity LifeStyle Properties by 23.3% during the 4th quarter. GAMMA Investing LLC now owns 1,763 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 333 shares during the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Price Performance

Shares of NYSE ELS opened at $64.99 on Tuesday. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $66.00 and its 200 day moving average price is $67.32. Equity LifeStyle Properties, Inc. has a 52 week low of $58.86 and a 52 week high of $76.60. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 3.02 and a beta of 0.76.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.83 EPS for the quarter, meeting the consensus estimate of $0.83. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. The business had revenue of $327.21 million for the quarter, compared to analyst estimates of $391.34 million. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, research analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.06 annualized dividend and a dividend yield of 3.17%. Equity LifeStyle Properties’s dividend payout ratio is currently 106.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Evercore ISI dropped their target price on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a report on Tuesday, January 28th. Jefferies Financial Group started coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, April 8th. They issued a “buy” rating and a $80.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. BMO Capital Markets dropped their price target on shares of Equity LifeStyle Properties from $78.00 to $77.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial reduced their price objective on shares of Equity LifeStyle Properties from $72.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.33.

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.