Assetmark Inc. Purchases 20,398 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Assetmark Inc. raised its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 133.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,677 shares of the real estate investment trust's stock after buying an additional 20,398 shares during the quarter. Assetmark Inc.'s holdings in Equity LifeStyle Properties were worth $2,376,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ELS. Principal Financial Group Inc. raised its position in shares of Equity LifeStyle Properties by 172.0% in 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 purchasing an additional 3,838,809 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Equity LifeStyle Properties by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust's stock worth $339,713,000 after buying an additional 147,332 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Equity LifeStyle Properties by 0.9% in the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust's stock worth $331,707,000 after buying an additional 39,864 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Equity LifeStyle Properties by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,833,596 shares of the real estate investment trust's stock worth $273,014,000 after buying an additional 65,191 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Equity LifeStyle Properties by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,553,330 shares of the real estate investment trust's stock valued at $170,052,000 after buying an additional 112,139 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms recently issued reports on ELS. Truist Financial raised Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. 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 report on Tuesday, January 28th. Royal Bank of Canada cut their target price on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 29th. Evercore ISI lowered their price target 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. Finally, Jefferies Financial Group upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and upped their price objective for the company from $72.00 to $80.00 in a research report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $73.78.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock traded down $0.81 during trading on Thursday, reaching $65.98. 1,109,094 shares of the stock traded hands, compared to its average volume of 1,216,504. 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 $12.61 billion, a price-to-earnings ratio of 33.84, a P/E/G 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 business has a fifty day simple moving average of $66.56 and a two-hundred day simple moving average of $69.00.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last posted its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, hitting analysts' consensus estimates of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. Sell-side 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. Shareholders of record on Friday, March 28th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.06 annualized dividend and a yield of 3.12%. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. Equity LifeStyle Properties's dividend payout ratio (DPR) is presently 105.64%.

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.