Argosy Lionbridge Management LLC Acquires New Position in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Argosy Lionbridge Management LLC opened a new position in Equity Lifestyle Properties by buying 61,000 shares in Q3 valued at about $3.70 million, representing ~2.4% of its portfolio and the firm's 11th largest holding.
• Equity Lifestyle Properties raised its quarterly dividend to $0.5425 (annualized $2.17) for a ~3.2% yield102.5%, suggesting payouts exceed reported earnings.
• The stock carries a consensus rating of "Moderate Buy" with an average price target of $70.42, while shares trade near $67.83.

Argosy Lionbridge Management LLC bought a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 61,000 shares of the real estate investment trust's stock, valued at approximately $3,703,000. Equity Lifestyle Properties comprises about 2.4% of Argosy Lionbridge Management LLC's investment portfolio, making the stock its 11th largest holding.

A number of other hedge funds have also bought and sold shares of the stock. Empowered Funds LLC lifted its stake in shares of Equity Lifestyle Properties by 14.1% during the first quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust's stock worth $435,000 after buying an additional 804 shares during the period. Jane Street Group LLC raised its stake in Equity Lifestyle Properties by 598.5% in the 1st quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust's stock worth $7,964,000 after acquiring an additional 102,303 shares during the last quarter. Intech Investment Management LLC raised its stake in Equity Lifestyle Properties by 62.3% in the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust's stock worth $1,542,000 after acquiring an additional 8,873 shares during the last quarter. Savant Capital LLC acquired a new stake in Equity Lifestyle Properties during the 2nd quarter worth about $340,000. Finally, Allworth Financial LP lifted its position in Equity Lifestyle Properties by 204.1% during the 2nd quarter. Allworth Financial LP now owns 660 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 443 shares during the period. Institutional investors and hedge funds own 97.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $70.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a report on Friday, February 27th. Zacks Research upgraded Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a research report on Monday, February 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $70.00 price target on shares of Equity Lifestyle Properties in a report on Friday, January 30th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $70.42.

Equity Lifestyle Properties Price Performance

Shares of ELS opened at $67.83 on Friday. The business's 50-day moving average is $65.06 and its two-hundred day moving average is $62.70. The company has a market capitalization of $13.16 billion, a P/E ratio of 33.75, a P/E/G ratio of 3.77 and a beta of 0.75. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $69.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04.

Equity Lifestyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a yield of 3.2%. This is a positive change from Equity Lifestyle Properties's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, March 27th. Equity Lifestyle Properties's dividend payout ratio is 102.49%.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc NYSE: ELS is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company's portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.

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