AQR Capital Management LLC Increases Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

AQR Capital Management LLC raised its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 138.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,459 shares of the real estate investment trust's stock after purchasing an additional 74,513 shares during the quarter. AQR Capital Management LLC owned about 0.07% of Equity LifeStyle Properties worth $8,548,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Equity LifeStyle Properties by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust's stock worth $1,668,586,000 after acquiring an additional 388,888 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Equity LifeStyle Properties by 172.0% in the fourth quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust's stock valued at $404,319,000 after purchasing an additional 3,838,809 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Equity LifeStyle Properties by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 4,761,879 shares of the real estate investment trust's stock worth $339,713,000 after purchasing an additional 147,332 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Equity LifeStyle Properties by 592.7% during the fourth quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust's stock worth $260,955,000 after purchasing an additional 3,352,584 shares during the period. Finally, Geode Capital Management LLC boosted its position in Equity LifeStyle Properties by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,887,371 shares of the real estate investment trust's stock valued at $258,536,000 after buying an additional 53,775 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $63.77 on Wednesday. The company has a market capitalization of $12.19 billion, a P/E ratio of 32.70, a P/E/G ratio of 3.02 and a beta of 0.76. Equity LifeStyle Properties, Inc. has a 12-month low of $58.86 and a 12-month high of $76.60. The business's 50 day moving average is $65.91 and its two-hundred day moving average is $67.30. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15.

Equity LifeStyle Properties (NYSE:ELS - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.83. The firm had revenue of $327.21 million for the quarter, compared to analysts' expectations of $391.34 million. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. During the same quarter last year, the company earned $0.59 EPS. Analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, June 27th. Equity LifeStyle Properties's dividend payout ratio is presently 106.74%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ELS. Robert W. Baird raised their price target on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Royal Bank of Canada decreased their target price on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a "hold" rating to a "buy" rating and lifted their price objective for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Evercore ISI decreased their price objective on 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. Finally, Truist Financial dropped their target price on Equity LifeStyle Properties from $72.00 to $71.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.33.

Equity LifeStyle Properties Company 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.

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