abrdn plc Increases Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

abrdn plc lifted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 529,055 shares of the real estate investment trust's stock after acquiring an additional 15,297 shares during the period. abrdn plc owned 0.28% of Equity LifeStyle Properties worth $37,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELS. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Equity LifeStyle Properties during the 4th quarter valued at about $35,000. Anchor Investment Management LLC purchased a new stake in shares of Equity LifeStyle Properties in the fourth quarter worth about $47,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Equity LifeStyle Properties in the third quarter worth about $64,000. Second Half Financial Partners LLC purchased a new stake in shares of Equity LifeStyle Properties in the third quarter worth about $66,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Equity LifeStyle Properties in the fourth quarter worth about $77,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wolfe Research upgraded Equity LifeStyle Properties from a "peer perform" rating to an "outperform" rating and set a $75.00 target price on the stock in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They issued a "hold" rating and a $64.00 target price on the stock. Truist Financial lowered their target price on Equity LifeStyle Properties from $73.00 to $72.00 and set a "hold" rating on the stock in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $70.15.

Equity LifeStyle Properties Price Performance

NYSE ELS traded down $0.97 during trading hours on Tuesday, reaching $61.73. The company's stock had a trading volume of 1,639,216 shares, compared to its average volume of 1,252,590. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 36.77, a P/E/G ratio of 3.73 and a beta of 0.69. Equity LifeStyle Properties, Inc. has a 1-year low of $60.47 and a 1-year high of $74.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.03 and a quick ratio of 0.03. The company's 50-day moving average is $64.83 and its two-hundred day moving average is $67.18.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.477 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.09%. This is a boost from Equity LifeStyle Properties's previous quarterly dividend of $0.45. Equity LifeStyle Properties's dividend payout ratio is presently 113.69%.

About Equity LifeStyle Properties

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.