Norges Bank bought a new stake in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,450,627 shares of the real estate investment trust's stock, valued at approximately $163,212,000. Norges Bank owned 1.28% of Equity LifeStyle Properties as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. National Pension Service acquired a new position in Equity LifeStyle Properties during the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. acquired a new position in shares of Equity LifeStyle Properties during the 4th quarter worth approximately $30,000. Board of the Pension Protection Fund acquired a new position in shares of Equity LifeStyle Properties during the 4th quarter worth approximately $33,000. MassMutual Private Wealth & Trust FSB raised its stake 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 valued at $38,000 after acquiring an additional 171 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Equity LifeStyle Properties by 68.2% during the 4th quarter. UMB Bank n.a. now owns 898 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 364 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ELS has been the topic of several research reports. Evercore ISI decreased their price objective on shares of 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. Robert W. Baird upped their price target 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. BMO Capital Markets upgraded shares of Equity LifeStyle Properties from a "market perform" rating to an "outperform" rating and set a $78.00 price objective for the company in a research report on Friday. Royal Bank of Canada decreased their target price on Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 29th. Finally, Truist Financial upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $74.20.
View Our Latest Analysis on Equity LifeStyle Properties
Equity LifeStyle Properties Price Performance
NYSE:ELS traded down $2.08 during trading hours on Friday, reaching $65.94. 2,318,951 shares of the company were exchanged, compared to its average volume of 1,299,360. The business has a 50 day moving average of $66.98 and a 200 day moving average of $68.28. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. The company has a market capitalization of $12.60 billion, a P/E ratio of 33.82, a P/E/G ratio of 3.02 and a beta of 0.72.
Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, meeting analysts' consensus estimates of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. Research analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.
Equity LifeStyle Properties Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, March 28th. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. Equity LifeStyle Properties's dividend payout ratio is 105.64%.
Equity LifeStyle Properties Company Profile
(
Free Report)
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.
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