OLD Mission Capital LLC Purchases New Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

OLD Mission Capital LLC acquired a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 87,383 shares of the real estate investment trust’s stock, valued at approximately $5,820,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ELS. The Manufacturers Life Insurance Company boosted its holdings in Equity LifeStyle Properties by 13.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 165,021 shares of the real estate investment trust’s stock valued at $11,773,000 after purchasing an additional 19,282 shares during the period. D.A. Davidson & CO. bought a new stake in shares of Equity LifeStyle Properties in the third quarter valued at approximately $256,000. BNP Paribas Financial Markets grew its position in Equity LifeStyle Properties by 3.4% during the third quarter. BNP Paribas Financial Markets now owns 186,298 shares of the real estate investment trust’s stock worth $13,290,000 after buying an additional 6,076 shares in the last quarter. Townsquare Capital LLC increased its stake in Equity LifeStyle Properties by 23.7% during the 3rd 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Equity LifeStyle Properties by 3.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,606 shares of the real estate investment trust’s stock valued at $5,322,000 after acquiring an additional 2,767 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ELS has been the topic of several analyst reports. Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Royal Bank of Canada decreased 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. Evercore ISI cut their price target on shares of 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. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $66.00 to $73.00 in a research report on Tuesday, January 21st. Finally, Robert W. Baird upped their target price on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Equity LifeStyle Properties has an average rating of “Moderate Buy” and a consensus target price of $73.78.

Equity LifeStyle Properties Trading Up 0.4 %

NYSE ELS opened at $66.70 on Tuesday. The company has a market cap of $12.75 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. 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 business’s fifty day moving average is $66.97 and its 200 day moving average is $68.47.

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

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.515 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, March 28th. This represents a $2.06 annualized dividend and a dividend yield of 3.09%. Equity LifeStyle Properties’s payout ratio is currently 105.64%.

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.