abrdn plc Buys 15,297 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

abrdn plc lifted its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 529,055 shares of the real estate investment trust’s stock after purchasing an additional 15,297 shares during the quarter. abrdn plc’s holdings in Equity LifeStyle Properties were worth $37,320,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Equity LifeStyle Properties by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 24,909,450 shares of the real estate investment trust’s stock worth $1,586,981,000 after purchasing an additional 472,855 shares in the last quarter. Aristotle Capital Management LLC raised its holdings in Equity LifeStyle Properties by 17.1% in the 3rd quarter. Aristotle Capital Management LLC now owns 11,536,605 shares of the real estate investment trust’s stock worth $734,997,000 after acquiring an additional 1,681,198 shares during the last quarter. Chai Trust Co. LLC raised its holdings in Equity LifeStyle Properties by 1.1% in the 3rd quarter. Chai Trust Co. LLC now owns 9,055,685 shares of the real estate investment trust’s stock worth $576,938,000 after acquiring an additional 102,696 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Equity LifeStyle Properties by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,770,822 shares of the real estate investment trust’s stock worth $367,659,000 after acquiring an additional 46,943 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Equity LifeStyle Properties by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,333,554 shares of the real estate investment trust’s stock worth $148,671,000 after acquiring an additional 67,508 shares during the last quarter. 97.21% of the stock is owned by institutional investors.

Equity LifeStyle Properties Price Performance

Shares of ELS opened at $62.70 on Tuesday. Equity LifeStyle Properties, Inc. has a 1-year low of $60.47 and a 1-year high of $74.04. The firm has a fifty day simple moving average of $64.83 and a two-hundred day simple moving average of $67.18. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The firm has a market cap of $11.69 billion, a PE ratio of 37.32, a P/E/G ratio of 3.73 and a beta of 0.69.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a dividend of $0.477 per share. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 27th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.04%. Equity LifeStyle Properties’s payout ratio is presently 113.69%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ELS shares. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Truist Financial decreased their price objective on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, January 24th. Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Equity LifeStyle Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $64.00 target price for the company. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $70.15.

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.