Westpac Banking Corp Increases Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Westpac Banking Corp boosted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 694.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,828 shares of the real estate investment trust's stock after acquiring an additional 26,948 shares during the quarter. Westpac Banking Corp's holdings in Equity LifeStyle Properties were worth $2,053,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 worth $38,000 after acquiring an additional 171 shares during the last quarter. Carmel Capital Partners LLC raised its holdings in shares of Equity LifeStyle Properties by 3.6% in the fourth quarter. Carmel Capital Partners LLC now owns 6,533 shares of the real estate investment trust's stock worth $435,000 after buying an additional 230 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Equity LifeStyle Properties by 1.0% during the 4th quarter. Corient Private Wealth LLC now owns 22,861 shares of the real estate investment trust's stock worth $1,523,000 after acquiring an additional 230 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Equity LifeStyle Properties by 2.1% during the 4th quarter. HighTower Advisors LLC now owns 11,446 shares of the real estate investment trust's stock valued at $762,000 after acquiring an additional 238 shares during the period. Finally, iA Global Asset Management Inc. increased its stake in Equity LifeStyle Properties by 7.2% in the fourth quarter. iA Global Asset Management Inc. now owns 3,800 shares of the real estate investment trust's stock worth $253,000 after purchasing an additional 256 shares during the period. Institutional investors own 97.21% of the company's stock.

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Equity LifeStyle Properties Stock Performance

Shares of ELS stock traded up $2.13 during mid-day trading on Wednesday, reaching $63.92. The stock had a trading volume of 2,602,924 shares, compared to its average volume of 1,296,848. Equity LifeStyle Properties, Inc. has a 1-year low of $58.86 and a 1-year high of $76.60. The business's fifty day moving average is $66.63 and its 200-day moving average is $67.97. 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 market cap of $12.22 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 3.02 and a beta of 0.72.

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, 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%. On average, research analysts forecast that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share 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. Investors of record on Friday, March 28th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Equity LifeStyle Properties's previous quarterly dividend of $0.48. Equity LifeStyle Properties's payout ratio is currently 105.64%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank of Canada reduced their price target on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 29th. Evercore ISI reduced their price target on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an "in-line" rating for the company in a report on Tuesday, January 28th. Robert W. Baird upped their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a "hold" rating to a "buy" rating and raised their target price for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Finally, BMO Capital Markets raised 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, April 4th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.