Caprock Group LLC Has $58 Million Stake in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Caprock Group LLC boosted its stake in Equity Lifestyle Properties by 42.3% in Q4 to 948,544 shares, valued at about $57.997 million, making ELS its 14th largest holding.
• Wall Street sentiment is positive with a consensus rating of "Moderate Buy" and an average target price of $69.55 after several upgrades and higher price targets from major analysts.
• Equity Lifestyle raised its quarterly dividend to $0.5425 (annualized $2.17) for a ~3.3% yield107.96%, indicating the dividend may be pressured by earnings levels.

Caprock Group LLC increased its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 42.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 948,544 shares of the real estate investment trust's stock after buying an additional 281,801 shares during the period. Equity Lifestyle Properties accounts for 1.2% of Caprock Group LLC's holdings, making the stock its 14th largest position. Caprock Group LLC owned 0.49% of Equity Lifestyle Properties worth $57,997,000 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 the business. Private Advisor Group LLC raised its position in shares of Equity Lifestyle Properties by 3.7% in the third quarter. Private Advisor Group LLC now owns 4,948 shares of the real estate investment trust's stock valued at $300,000 after buying an additional 178 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Equity Lifestyle Properties by 1.6% in the third quarter. Crossmark Global Holdings Inc. now owns 14,229 shares of the real estate investment trust's stock valued at $864,000 after buying an additional 220 shares in the last quarter. M&G PLC raised its position in shares of Equity Lifestyle Properties by 8.2% in the third quarter. M&G PLC now owns 3,293 shares of the real estate investment trust's stock valued at $201,000 after buying an additional 249 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Equity Lifestyle Properties by 27.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,250 shares of the real estate investment trust's stock valued at $76,000 after buying an additional 269 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in shares of Equity Lifestyle Properties by 1.3% in the third quarter. Gabelli Funds LLC now owns 21,327 shares of the real estate investment trust's stock valued at $1,295,000 after buying an additional 283 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the company a "hold" rating in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 price objective for the company in a research report on Wednesday, April 15th. BMO Capital Markets restated an "outperform" rating and set a $75.00 price objective (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. Mizuho assumed coverage on shares of Equity Lifestyle Properties in a research report on Tuesday, March 31st. They set an "outperform" rating and a $72.00 price objective for the company. Finally, Barclays restated an "overweight" rating and set a $71.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.55.

Insider Buying and Selling at Equity Lifestyle Properties

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the business's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total transaction of $201,660.00. Following the sale, the director owned 14,890 shares of the company's stock, valued at approximately $1,000,905.80. The trade was a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

Equity Lifestyle Properties Stock Down 1.6%

Shares of ELS opened at $64.97 on Wednesday. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year high of $69.00. The company has a market cap of $12.60 billion, a P/E ratio of 32.32, a P/E/G ratio of 3.87 and a beta of 0.76. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a 50 day simple moving average of $65.80 and a two-hundred day simple moving average of $63.41.

Equity Lifestyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were paid a dividend of $0.5425 per share. The ex-dividend date of this dividend was Friday, March 27th. This is a boost from Equity Lifestyle Properties's previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.3%. Equity Lifestyle Properties's payout ratio is presently 107.96%.

About Equity Lifestyle Properties

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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