New York Life Investment Management LLC lifted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS - Free Report) by 108.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,556 shares of the real estate investment trust's stock after purchasing an additional 25,220 shares during the quarter. New York Life Investment Management LLC's holdings in Equity LifeStyle Properties were worth $3,425,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Buckhead Capital Management LLC lifted its position in Equity LifeStyle Properties by 5.3% during the fourth quarter. Buckhead Capital Management LLC now owns 57,082 shares of the real estate investment trust's stock valued at $4,027,000 after purchasing an additional 2,894 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in shares of Equity LifeStyle Properties in the 4th quarter valued at about $310,000. Van ECK Associates Corp grew its position in Equity LifeStyle Properties by 14.7% in the fourth quarter. Van ECK Associates Corp now owns 71,752 shares of the real estate investment trust's stock worth $5,061,000 after acquiring an additional 9,169 shares in the last quarter. Naviter Wealth LLC increased its stake in Equity LifeStyle Properties by 21.4% during the fourth quarter. Naviter Wealth LLC now owns 12,212 shares of the real estate investment trust's stock worth $867,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in Equity LifeStyle Properties by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 233,448 shares of the real estate investment trust's stock valued at $16,467,000 after purchasing an additional 863 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.
Equity LifeStyle Properties Stock Performance
ELS traded up $0.17 during trading on Friday, reaching $63.33. 1,451,517 shares of the company's stock were exchanged, compared to its average volume of 1,537,669. The company's fifty day simple moving average is $63.91 and its 200-day simple moving average is $66.94. The stock has a market capitalization of $11.81 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 3.73 and a beta of 0.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $74.04.
Equity LifeStyle Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.477 per share. The ex-dividend date is Friday, June 28th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.01%. Equity LifeStyle Properties's payout ratio is 104.37%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on ELS shares. Deutsche Bank Aktiengesellschaft assumed coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a "hold" rating and a $64.00 target price on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Truist Financial reduced their price objective on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday. Barclays dropped their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an "overweight" rating for the company in a research report on Friday, April 26th. Finally, Wolfe Research upgraded Equity LifeStyle Properties from a "peer perform" rating to an "outperform" rating and set a $75.00 price target on the stock in a report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $68.85.
Check Out Our Latest Stock Report on Equity LifeStyle Properties
About Equity LifeStyle Properties
(
Free Report)
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.
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