GAMMA Investing LLC Makes New $44,000 Investment in Equity LifeStyle Properties, Inc. (NYSE:ELS)

GAMMA Investing LLC bought a new position in Equity LifeStyle Properties, Inc. (NYSE:ELS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 648 shares of the real estate investment trust’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aristotle Capital Management LLC boosted its holdings in Equity LifeStyle Properties by 17.1% in the third quarter. Aristotle Capital Management LLC now owns 11,536,605 shares of the real estate investment trust’s stock worth $734,997,000 after purchasing an additional 1,681,198 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Equity LifeStyle Properties by 87.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,925,036 shares of the real estate investment trust’s stock worth $122,644,000 after buying an additional 896,361 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Equity LifeStyle Properties by 43.4% in the third quarter. Northern Trust Corp now owns 1,926,497 shares of the real estate investment trust’s stock worth $122,737,000 after acquiring an additional 583,317 shares during the period. Vanguard Group Inc. increased its position in Equity LifeStyle Properties by 1.9% during the third quarter. Vanguard Group Inc. now owns 24,909,450 shares of the real estate investment trust’s stock valued at $1,586,981,000 after acquiring an additional 472,855 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Equity LifeStyle Properties by 108.7% during the third quarter. Rhumbline Advisers now owns 597,164 shares of the real estate investment trust’s stock valued at $38,045,000 after acquiring an additional 310,996 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ELS. Barclays cut their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 target price for the company. Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Friday, February 9th. Truist Financial reduced their price objective on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.85.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock opened at $63.33 on Friday. The company has a market capitalization of $11.81 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 3.59 and a beta of 0.70. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $63.91 and its 200-day simple moving average is $66.95. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $74.04.

Equity LifeStyle Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.477 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.91 dividend on an annualized basis and a yield of 3.01%. Equity LifeStyle Properties’s dividend payout ratio is presently 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.