Nisa Investment Advisors LLC Decreases Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Nisa Investment Advisors LLC cut its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 14.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,061 shares of the real estate investment trust’s stock after selling 10,215 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Equity LifeStyle Properties were worth $4,097,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ELS. Board of the Pension Protection Fund purchased a new stake in Equity LifeStyle Properties in the 4th quarter worth about $33,000. UMB Bank n.a. increased its holdings in Equity LifeStyle Properties by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 417 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Equity LifeStyle Properties by 43.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 171 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Equity LifeStyle Properties by 31.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 146 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Equity LifeStyle Properties in the 3rd quarter worth about $72,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ELS. Evercore ISI lifted their price objective on Equity LifeStyle Properties from $76.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their target price for the company from $72.00 to $80.00 in a report on Thursday, January 2nd. Compass Point lifted their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird lifted their target price on Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Equity LifeStyle Properties currently has an average rating of “Moderate Buy” and an average price target of $74.20.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $67.15 on Friday. The company has a market cap of $12.83 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 3.28 and a beta of 0.79. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $68.01 and a 200-day moving average price of $69.52. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $76.60.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.477 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.84%. Equity LifeStyle Properties’s payout ratio is 98.45%.

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.