Korea Investment CORP Reduces Holdings in Equity Lifestyle Properties, Inc. $ELS

Korea Investment CORP lowered its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 11.2% during the third quarter, Holdings Channel reports. The firm owned 136,621 shares of the real estate investment trust’s stock after selling 17,294 shares during the quarter. Korea Investment CORP’s holdings in Equity Lifestyle Properties were worth $8,293,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Equity Lifestyle Properties by 1.8% during the 2nd quarter. State Street Corp now owns 13,268,436 shares of the real estate investment trust’s stock worth $824,943,000 after buying an additional 237,090 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Equity Lifestyle Properties by 32.5% in the third quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock valued at $414,194,000 after buying an additional 1,674,281 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Equity Lifestyle Properties by 114.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,375,154 shares of the real estate investment trust’s stock valued at $326,272,000 after buying an additional 2,868,678 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Equity Lifestyle Properties by 12.2% in the second quarter. JPMorgan Chase & Co. now owns 4,724,515 shares of the real estate investment trust’s stock valued at $291,363,000 after acquiring an additional 515,063 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Equity Lifestyle Properties by 0.5% in the second quarter. Geode Capital Management LLC now owns 4,071,627 shares of the real estate investment trust’s stock valued at $250,491,000 after acquiring an additional 20,600 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ELS has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Equity Lifestyle Properties in a report on Friday, January 30th. UBS Group set a $67.00 price target on shares of Equity Lifestyle Properties and gave the stock a “buy” rating in a research note on Thursday, January 8th. Robert W. Baird set a $73.00 price objective on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. Zacks Research upgraded shares of Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, Bank of America raised shares of Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Equity Lifestyle Properties currently has an average rating of “Moderate Buy” and a consensus target price of $70.42.

Equity Lifestyle Properties Price Performance

Equity Lifestyle Properties stock opened at $66.98 on Thursday. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $69.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.04 and a quick ratio of 0.04. The business has a 50 day simple moving average of $64.75 and a 200-day simple moving average of $62.58. The stock has a market capitalization of $12.99 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

Equity Lifestyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be paid a $0.5425 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.17 annualized dividend and a yield of 3.2%. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s dividend payout ratio is presently 102.49%.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.