Invesco Ltd. grew its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 592.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,918,241 shares of the real estate investment trust's stock after purchasing an additional 3,352,584 shares during the period. Invesco Ltd. owned approximately 2.05% of Equity LifeStyle Properties worth $260,955,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of ELS. Principal Financial Group Inc. lifted its position in Equity LifeStyle Properties by 172.0% during the fourth quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust's stock valued at $404,319,000 after purchasing an additional 3,838,809 shares during the period. Norges Bank purchased a new position in shares of Equity LifeStyle Properties during the 4th quarter valued at approximately $163,212,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of Equity LifeStyle Properties in the 4th quarter valued at $41,391,000. Vanguard Group Inc. boosted its holdings in Equity LifeStyle Properties by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust's stock worth $1,668,586,000 after buying an additional 388,888 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its position in Equity LifeStyle Properties by 442.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 310,334 shares of the real estate investment trust's stock valued at $20,668,000 after buying an additional 253,161 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. Truist Financial raised shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Evercore ISI decreased their price target on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating on the stock in a research note on Tuesday, January 28th. Jefferies Financial Group started coverage on Equity LifeStyle Properties in a report on Tuesday, April 8th. They issued a "buy" rating and a $80.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and raised their price target for the stock from $66.00 to $73.00 in a report on Tuesday, January 21st. Finally, Royal Bank of Canada dropped their price target 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. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.20.
Get Our Latest Stock Report on Equity LifeStyle Properties
Equity LifeStyle Properties Stock Down 0.1 %
NYSE ELS traded down $0.03 on Tuesday, hitting $65.54. 553,149 shares of the stock were exchanged, compared to its average volume of 1,295,236. Equity LifeStyle Properties, Inc. has a fifty-two week low of $58.86 and a fifty-two week high of $76.60. The company has a 50-day moving average price of $66.58 and a 200-day moving average price of $67.79. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15. The company has a market cap of $12.53 billion, a PE ratio of 33.63, a PEG ratio of 3.02 and a beta of 0.72.
Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 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%. Sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.
Equity LifeStyle Properties Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, March 28th. This is a boost from Equity LifeStyle Properties's previous quarterly dividend of $0.48. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.14%. Equity LifeStyle Properties's dividend payout ratio is 105.64%.
Equity LifeStyle Properties 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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