Metis Global Partners LLC Acquires 1,119 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Metis Global Partners LLC grew its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,151 shares of the real estate investment trust’s stock after purchasing an additional 1,119 shares during the period. Metis Global Partners LLC’s holdings in Equity LifeStyle Properties were worth $1,069,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Retirement Systems of Alabama boosted its stake in shares of Equity LifeStyle Properties by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 233,448 shares of the real estate investment trust’s stock worth $16,467,000 after buying an additional 863 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Equity LifeStyle Properties during the fourth quarter worth about $956,000. Arizona State Retirement System grew its position in shares of Equity LifeStyle Properties by 0.8% during the fourth quarter. Arizona State Retirement System now owns 48,637 shares of the real estate investment trust’s stock worth $3,431,000 after purchasing an additional 375 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Equity LifeStyle Properties by 0.4% during the fourth quarter. State of Michigan Retirement System now owns 44,700 shares of the real estate investment trust’s stock worth $3,153,000 after purchasing an additional 200 shares in the last quarter. Finally, Duality Advisers LP purchased a new stake in shares of Equity LifeStyle Properties during the third quarter worth about $384,000. Institutional investors own 97.21% of the company’s stock.

Analysts Set New Price Targets

ELS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $64.00 target price for the company. Truist Financial cut their price target on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Friday, February 9th. Finally, Barclays cut their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Equity LifeStyle Properties presently has a consensus rating of “Hold” and an average price target of $68.85.

Equity LifeStyle Properties Price Performance

NYSE:ELS opened at $62.73 on Thursday. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 3.73 and a beta of 0.70. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $74.04. The business has a 50 day simple moving average of $63.72 and a 200-day simple moving average of $66.88. 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 Announces Dividend

The business 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 $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, June 28th. Equity LifeStyle Properties’s payout ratio is 104.37%.

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.