Equity LifeStyle Properties, Inc. (NYSE:ELS) Stock Position Raised by Van ECK Associates Corp

Van ECK Associates Corp raised its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,752 shares of the real estate investment trust’s stock after purchasing an additional 9,169 shares during the period. Van ECK Associates Corp’s holdings in Equity LifeStyle Properties were worth $5,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELS. Commonwealth Equity Services LLC raised its stake in shares of Equity LifeStyle Properties by 5.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,172 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 204 shares in the last quarter. Xponance Inc. raised its stake in shares of Equity LifeStyle Properties by 130.1% in the 3rd quarter. Xponance Inc. now owns 28,672 shares of the real estate investment trust’s stock valued at $1,827,000 after acquiring an additional 16,209 shares in the last quarter. Bank of New York Mellon Corp raised 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 valued at $122,644,000 after acquiring an additional 896,361 shares in the last quarter. Telemus Capital LLC raised its stake in shares of Equity LifeStyle Properties by 9.5% in the 3rd quarter. Telemus Capital LLC now owns 18,024 shares of the real estate investment trust’s stock valued at $1,148,000 after acquiring an additional 1,559 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in shares of Equity LifeStyle Properties in the 3rd quarter valued at approximately $8,503,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Truist Financial cut their price objective on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday. Wolfe Research raised 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. Deutsche Bank Aktiengesellschaft started coverage on Equity LifeStyle Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price on the stock. Barclays lowered their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $68.85.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $63.33 on Friday. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $74.04. The firm has a market capitalization of $11.81 billion, a PE ratio of 34.61, a PEG ratio of 3.73 and a beta of 0.70. The business’s 50 day moving average is $63.91 and its 200-day moving average is $66.94. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33.

Equity LifeStyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, June 28th. Equity LifeStyle Properties’s payout ratio is presently 104.37%.

About Equity LifeStyle Properties

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.