Retirement Systems of Alabama Purchases 863 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Retirement Systems of Alabama increased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,448 shares of the real estate investment trust’s stock after purchasing an additional 863 shares during the period. Retirement Systems of Alabama’s holdings in Equity LifeStyle Properties were worth $16,467,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cornercap Investment Counsel Inc. bought a new position in shares of Equity LifeStyle Properties in the 4th quarter worth $956,000. Arizona State Retirement System lifted its holdings in shares of Equity LifeStyle Properties by 0.8% in the 4th quarter. Arizona State Retirement System now owns 48,637 shares of the real estate investment trust’s stock worth $3,431,000 after purchasing an additional 375 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Equity LifeStyle Properties by 0.4% in the 4th quarter. State of Michigan Retirement System now owns 44,700 shares of the real estate investment trust’s stock worth $3,153,000 after purchasing an additional 200 shares in the last quarter. Duality Advisers LP bought a new position in Equity LifeStyle Properties during the 3rd quarter valued at $384,000. Finally, Janney Montgomery Scott LLC lifted its stake in Equity LifeStyle Properties by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 163,018 shares of the real estate investment trust’s stock valued at $10,386,000 after acquiring an additional 5,318 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ELS has been the topic of several recent analyst reports. Truist Financial dropped their price objective on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $64.00 price objective on the stock. Barclays dropped their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Finally, Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Equity LifeStyle Properties presently has an average rating of “Hold” and a consensus price target of $69.55.

Equity LifeStyle Properties Trading Down 0.7 %

Shares of ELS opened at $60.31 on Wednesday. The business has a 50-day moving average of $64.18 and a 200 day moving average of $67.03. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $74.04. The firm has a market cap of $11.25 billion, a P/E ratio of 32.96, a price-to-earnings-growth ratio of 4.00 and a beta of 0.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a $0.477 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.91 annualized dividend and a yield of 3.16%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

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.