Swiss Life Asset Management Ltd Increases Holdings in Equity Lifestyle Properties, Inc. $ELS

Key Points

• Swiss Life Asset Management boosted its stake in Equity Lifestyle Properties by 232.3% in Q3, now owning 56,617 shares valued at about $3.44 million.
• Equity Lifestyle raised its quarterly dividend to $0.5425 (annualized $2.17), implying a 3.4% yield, though the dividend payout ratio is a high 102.49%.
• Analysts are mixed but consensus is a "Hold" with an average price target of $69.63 (ratings: 1 Strong Buy, 6 Buy, 7 Hold, 1 Sell).

Swiss Life Asset Management Ltd raised its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 232.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,617 shares of the real estate investment trust's stock after purchasing an additional 39,580 shares during the period. Swiss Life Asset Management Ltd's holdings in Equity Lifestyle Properties were worth $3,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new stake in Equity Lifestyle Properties in the 3rd quarter worth approximately $3,487,000. Wilmington Savings Fund Society FSB increased its stake in shares of Equity Lifestyle Properties by 27.4% during 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 during the period. Danske Bank A S bought a new position in shares of Equity Lifestyle Properties during the third quarter valued at approximately $6,911,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Equity Lifestyle Properties by 943.8% during the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 453 shares in the last quarter. Finally, DigitalBridge Group Inc. purchased a new stake in Equity Lifestyle Properties in the third quarter worth $747,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Equity Lifestyle Properties in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Equity Lifestyle Properties from a "buy" rating to a "hold" rating and set a $65.00 price objective for the company. in a report on Tuesday, January 20th. BMO Capital Markets reaffirmed an "outperform" rating and set a $75.00 target price (up from $72.00) on shares of Equity Lifestyle Properties in a research note on Wednesday, February 18th. Wells Fargo & Company reiterated an "equal weight" rating and set a $70.00 price target (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Friday, February 27th. Finally, Truist Financial increased their price target on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the stock a "hold" rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Equity Lifestyle Properties presently has a consensus rating of "Hold" and an average target price of $69.63.

Equity Lifestyle Properties Price Performance

Shares of ELS stock opened at $64.21 on Monday. The stock has a market cap of $12.45 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 3.57 and a beta of 0.75. The business's fifty day moving average is $65.66 and its 200 day moving average is $62.94. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $69.15. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.30.

Equity Lifestyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be issued a dividend of $0.5425 per share. This is a boost from Equity Lifestyle Properties's previous quarterly dividend of $0.52. The ex-dividend date is Friday, March 27th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio (DPR) is presently 102.49%.

Insider Buying and Selling at Equity Lifestyle Properties

In other news, Director David J. Contis sold 3,000 shares of the company's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total value of $201,660.00. Following the sale, the director directly owned 14,890 shares of the company's stock, valued at $1,000,905.80. This represents a 16.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

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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