Corient Private Wealth LLC Acquires 230 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Corient Private Wealth LLC lifted its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,861 shares of the real estate investment trust’s stock after purchasing an additional 230 shares during the quarter. Corient Private Wealth LLC’s holdings in Equity LifeStyle Properties were worth $1,523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Townsquare Capital LLC boosted its holdings in Equity LifeStyle Properties by 23.7% in the third quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust’s stock worth $916,000 after acquiring an additional 2,458 shares in the last quarter. Empowered Funds LLC bought a new position in Equity LifeStyle Properties in the 4th quarter worth about $380,000. Vert Asset Management LLC grew its position in Equity LifeStyle Properties by 9.8% during the 4th quarter. Vert Asset Management LLC now owns 79,516 shares of the real estate investment trust’s stock valued at $5,296,000 after purchasing an additional 7,092 shares during the last quarter. Citigroup Inc. increased its stake in Equity LifeStyle Properties by 16.7% during the 3rd quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock valued at $15,210,000 after purchasing an additional 30,489 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Equity LifeStyle Properties by 6.4% in the fourth quarter. Nordea Investment Management AB now owns 21,574 shares of the real estate investment trust’s stock worth $1,432,000 after buying an additional 1,301 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Price Performance

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

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

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is currently 105.64%.

Analyst Ratings Changes

A number of research firms have recently commented on ELS. Robert W. Baird increased their price target on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Evercore ISI reduced their target price on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $72.00 to $80.00 in a research report on Thursday, January 2nd. Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.78.

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.