Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,853 shares of the real estate investment trust’s stock, valued at approximately $506,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of Equity Lifestyle Properties by 303.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock valued at $966,648,000 after buying an additional 11,999,874 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Equity Lifestyle Properties by 253.7% in the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock worth $191,025,000 after acquiring an additional 2,257,299 shares in the last quarter. Cohen & Steers Inc. increased its stake in Equity Lifestyle Properties by 26.8% during the fourth quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock worth $643,331,000 after acquiring an additional 2,246,622 shares during the last quarter. Norges Bank purchased a new stake in Equity Lifestyle Properties during the fourth quarter valued at approximately $125,352,000. Finally, Royal London Asset Management Ltd. raised its position in Equity Lifestyle Properties by 1,520.4% during the second quarter. Royal London Asset Management Ltd. now owns 1,771,803 shares of the real estate investment trust’s stock valued at $109,267,000 after purchasing an additional 1,662,458 shares during the period. 97.21% of the stock is owned by hedge funds and other institutional investors.
Equity Lifestyle Properties Stock Performance
Shares of Equity Lifestyle Properties stock opened at $64.57 on Wednesday. The stock’s fifty day moving average is $64.64 and its two-hundred day moving average is $64.58. The company has a market capitalization of $12.53 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 3.82 and a beta of 0.64. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.31. Equity Lifestyle Properties, Inc. has a 52 week low of $58.72 and a 52 week high of $69.00.
Equity Lifestyle Properties Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a dividend of $0.5425 per share. The ex-dividend date is Friday, September 25th. This represents a $2.17 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is presently 104.33%.
Analyst Upgrades and Downgrades
ELS has been the subject of a number of recent research reports. Barclays set a $69.00 target price on Equity Lifestyle Properties and gave the stock an “equal weight” rating in a report on Monday. Jefferies Financial Group upgraded Equity Lifestyle Properties to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Equity Lifestyle Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Morgan Stanley reiterated a “mixed” rating and set a $59.00 price objective (down from $62.50) on shares of Equity Lifestyle Properties in a research report on Wednesday, August 12th. Finally, Robert W. Baird increased their target price on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.52.
Check Out Our Latest Stock Analysis on Equity Lifestyle Properties
Equity Lifestyle Properties Company Profile
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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