Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 30.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,639 shares of the real estate investment trust’s stock after purchasing an additional 10,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Equity LifeStyle Properties were worth $2,906,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Moran Wealth Management LLC increased its position in Equity LifeStyle Properties by 0.8% during the 3rd quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust’s stock valued at $1,264,000 after purchasing an additional 143 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Equity LifeStyle Properties by 43.5% during 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 purchasing an additional 171 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Equity LifeStyle Properties by 14.7% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,093 shares of the real estate investment trust’s stock valued at $149,000 after purchasing an additional 269 shares during the period. Carmel Capital Partners LLC increased its position in Equity LifeStyle Properties by 5.2% during the 3rd quarter. Carmel Capital Partners LLC now owns 6,303 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 311 shares during the period. Finally, Financial Advocates Investment Management increased its position in Equity LifeStyle Properties by 5.5% during the 3rd quarter. Financial Advocates Investment Management now owns 6,248 shares of the real estate investment trust’s stock valued at $446,000 after purchasing an additional 327 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 $67.24 on Thursday. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 3.02 and a beta of 0.79. The firm’s 50-day moving average is $66.28 and its 200 day moving average is $69.18. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03.

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

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, March 28th. This represents a $2.06 annualized dividend and a yield of 3.06%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is currently 105.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ELS. Evercore ISI reduced their price objective on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a research report on Tuesday, January 28th. Truist Financial upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a 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 target price for the company from $72.00 to $80.00 in a report on Thursday, January 2nd. Robert W. Baird boosted their target price 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. 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 on the stock in a report on Wednesday, January 29th. Three research 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.78.

Equity LifeStyle Properties Profile

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.