Zurcher Kantonalbank Zurich Cantonalbank Trims Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 67,878 shares of the real estate investment trust’s stock after selling 1,473 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Equity LifeStyle Properties were worth $4,788,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Equity LifeStyle Properties by 0.8% during the fourth quarter. Arizona State Retirement System now owns 48,637 shares of the real estate investment trust’s stock worth $3,431,000 after acquiring an additional 375 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of Equity LifeStyle Properties during the fourth quarter worth $956,000. State of Michigan Retirement System boosted its position in shares of Equity LifeStyle Properties by 0.4% during the fourth quarter. State of Michigan Retirement System now owns 44,700 shares of the real estate investment trust’s stock worth $3,153,000 after acquiring an additional 200 shares during the last quarter. Duality Advisers LP bought a new position in shares of Equity LifeStyle Properties during the third quarter worth $384,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of Equity LifeStyle Properties by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 163,018 shares of the real estate investment trust’s stock worth $10,386,000 after acquiring an additional 5,318 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Friday, February 9th. Truist Financial lowered their price objective on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.15.

Equity LifeStyle Properties Trading Up 0.6 %

ELS stock opened at $62.73 on Monday. The company has a market capitalization of $11.70 billion, a PE ratio of 37.34, a P/E/G ratio of 3.73 and a beta of 0.69. Equity LifeStyle Properties, Inc. has a 12 month low of $60.47 and a 12 month high of $74.04. The firm’s 50-day moving average is $64.93 and its 200 day moving average is $67.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 3.04%. The ex-dividend date was Wednesday, March 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 113.69%.

Equity LifeStyle Properties Profile

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.