Mitsubishi UFJ Asset Management Co. Ltd. Buys 22,604 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 259,461 shares of the real estate investment trust's stock after acquiring an additional 22,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.14% of Equity LifeStyle Properties worth $17,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELS. Principal Financial Group Inc. lifted its stake in Equity LifeStyle Properties by 172.0% in 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 buying an additional 3,838,809 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Equity LifeStyle Properties by 592.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,626,963 shares of the real estate investment trust's stock worth $116,068,000 after acquiring an additional 1,391,846 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Equity LifeStyle Properties by 14,049.2% during the third quarter. Quantinno Capital Management LP now owns 713,971 shares of the real estate investment trust's stock valued at $50,935,000 after purchasing an additional 708,925 shares during the period. Cbre Investment Management Listed Real Assets LLC acquired a new position in Equity LifeStyle Properties during the fourth quarter valued at approximately $41,391,000. Finally, Vanguard Group Inc. increased its stake in Equity LifeStyle Properties by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust's stock valued at $1,668,586,000 after purchasing an additional 388,888 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Equity LifeStyle Properties Stock Performance

Shares of ELS traded down $2.08 during midday trading on Friday, reaching $65.94. The stock had a trading volume of 2,318,951 shares, compared to its average volume of 1,297,100. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. The firm has a 50 day simple moving average of $66.98 and a 200-day simple moving average of $68.32. The firm has a market cap of $12.60 billion, a PE ratio of 33.82, a P/E/G ratio of 3.02 and a beta of 0.72. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 EPS for the quarter, hitting analysts' consensus estimates of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. As a group, sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.515 per share. This is an increase from Equity LifeStyle Properties's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.06 annualized dividend and a yield of 3.12%. Equity LifeStyle Properties's dividend payout ratio (DPR) is currently 105.64%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ELS shares. Jefferies Financial Group upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and increased their price target for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a "hold" rating to a "buy" rating and lifted their target price for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Truist Financial upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Robert W. Baird boosted their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Finally, BMO Capital Markets raised shares of Equity LifeStyle Properties from a "market perform" rating to an "outperform" rating and set a $78.00 target price for the company in a research report on Friday. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Equity LifeStyle Properties presently has a consensus rating of "Moderate Buy" and an average target price of $74.20.

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.