PNC Financial Services Group Inc. Purchases 922 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

PNC Financial Services Group Inc. lifted its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,644 shares of the real estate investment trust’s stock after acquiring an additional 922 shares during the period. PNC Financial Services Group Inc.’s holdings in Equity LifeStyle Properties were worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 172.0% during the 4th quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust’s stock worth $404,319,000 after acquiring an additional 3,838,809 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Equity LifeStyle Properties by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust’s stock worth $339,713,000 after acquiring an additional 147,332 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Equity LifeStyle Properties by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,833,596 shares of the real estate investment trust’s stock worth $273,014,000 after acquiring an additional 65,191 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Equity LifeStyle Properties by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,553,330 shares of the real estate investment trust’s stock worth $170,052,000 after acquiring an additional 112,139 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 370.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,329,431 shares of the real estate investment trust’s stock worth $166,182,000 after acquiring an additional 1,834,491 shares during the period. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Price Performance

ELS stock opened at $67.04 on Monday. The company has a fifty day moving average price of $66.53 and a 200-day moving average price of $68.93. The company has a market capitalization of $12.81 billion, a P/E ratio of 34.38, a PEG 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.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (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%. As a group, equities analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.515 per share. 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. This represents a $2.06 annualized dividend and a dividend yield of 3.07%. Equity LifeStyle Properties’s dividend payout ratio is 105.64%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ELS shares. Jefferies Financial Group raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. Royal Bank of Canada dropped their price objective on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 29th. 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 note on Tuesday, January 28th. Truist Financial raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Evercore ISI dropped their price objective on shares of 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. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of “Moderate Buy” and an average price target 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.