Corient Private Wealth LLC Raises Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Corient Private Wealth LLC grew its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,861 shares of the real estate investment trust’s stock after acquiring an additional 230 shares during the quarter. Corient Private Wealth LLC’s holdings in Equity LifeStyle Properties were worth $1,523,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. National Pension Service purchased a new position in Equity LifeStyle Properties in the 4th quarter worth $25,000. Geneos Wealth Management Inc. bought a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at about $30,000. Board of the Pension Protection Fund purchased a new position in shares of Equity LifeStyle Properties in the fourth quarter worth about $33,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Equity LifeStyle Properties by 43.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 171 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Equity LifeStyle Properties by 68.2% during the 4th quarter. UMB Bank n.a. now owns 898 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 364 shares during the period. 97.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on ELS. Robert W. Baird lifted their price target on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $73.00 in a research note on Tuesday, January 21st. Truist Financial raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and boosted their price objective for the company from $72.00 to $80.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada dropped their target price on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.78.

Equity LifeStyle Properties Trading Down 1.5 %

Shares of ELS opened at $66.85 on Wednesday. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $66.93 and its 200-day moving average price is $68.71. The firm has a market capitalization of $12.78 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 3.02 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last posted its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. Sell-side analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.515 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 28th. This represents a $2.06 dividend on an annualized basis and a yield of 3.08%. Equity LifeStyle Properties’s dividend payout ratio is 105.64%.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.