Evergreen Capital Management LLC Has $8.24 Million Holdings in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Evergreen Capital increased its stake in Equity Lifestyle Properties by 2,618%, adding 129,801 shares to reach 134,759 shares worth about $8.24 million (≈0.07% of the company) at quarter-end.
• Equity Lifestyle Properties raised its quarterly dividend to $0.5425 (annualized $2.17), a 3.3% yield, though the dividend payout ratio is about 107.96%.
• Institutional investors own roughly 97.21% of ELS, and analysts have a consensus rating of "Moderate Buy" with a $69.55 price target.

Evergreen Capital Management LLC increased its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 2,618.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,759 shares of the real estate investment trust's stock after acquiring an additional 129,801 shares during the period. Evergreen Capital Management LLC owned about 0.07% of Equity Lifestyle Properties worth $8,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Equity Lifestyle Properties in the 3rd quarter worth about $1,243,000. Fermata Advisors LLC raised its holdings in shares of Equity Lifestyle Properties by 471.9% in the 4th quarter. Fermata Advisors LLC now owns 33,933 shares of the real estate investment trust's stock worth $2,057,000 after acquiring an additional 28,000 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc raised its holdings in shares of Equity Lifestyle Properties by 910.4% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 100,390 shares of the real estate investment trust's stock worth $6,091,000 after acquiring an additional 90,454 shares during the last quarter. Argosy Lionbridge Management LLC acquired a new stake in shares of Equity Lifestyle Properties in the 3rd quarter worth about $3,703,000. Finally, ProShare Advisors LLC raised its holdings in shares of Equity Lifestyle Properties by 10.8% in the 3rd quarter. ProShare Advisors LLC now owns 586,269 shares of the real estate investment trust's stock worth $35,587,000 after acquiring an additional 56,913 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Equity Lifestyle Properties Trading Up 0.9%

NYSE:ELS opened at $66.01 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 3.64 and a beta of 0.76. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $69.00. The firm has a 50-day moving average price of $65.83 and a two-hundred day moving average price of $63.39.

Equity Lifestyle Properties Increases Dividend

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

Insider Activity

In other news, Director David J. Contis sold 3,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director owned 14,890 shares in the company, valued at $1,000,905.80. This trade represents a 16.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ELS shares. Wall Street Zen upgraded shares of Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Zelman & Associates started coverage on shares of Equity Lifestyle Properties in a research note on Monday, March 16th. They issued an "underperform" rating and a $59.25 price objective for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. Wells Fargo & Company reiterated an "equal weight" rating and issued a $70.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Friday, February 27th. Finally, Robert W. Baird set a $73.00 price objective on shares of Equity Lifestyle Properties in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.55.

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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