Clearbridge Investments LLC Raises Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Clearbridge Investments LLC grew its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 278.4% during the 4th quarter, Holdings Channel reports. The fund owned 330,109 shares of the real estate investment trust’s stock after acquiring an additional 242,865 shares during the period. Clearbridge Investments LLC’s holdings in Equity LifeStyle Properties were worth $23,286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ELS. Commonwealth Equity Services LLC lifted its position in shares of Equity LifeStyle Properties by 5.1% in the third quarter. Commonwealth Equity Services LLC now owns 4,172 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 204 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Equity LifeStyle Properties by 23.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,680 shares of the real estate investment trust’s stock valued at $362,000 after purchasing an additional 1,089 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Equity LifeStyle Properties by 5.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 248,718 shares of the real estate investment trust’s stock valued at $15,846,000 after purchasing an additional 12,621 shares during the last quarter. Capula Management Ltd acquired a new position in Equity LifeStyle Properties in the third quarter valued at $440,000. Finally, NBC Securities Inc. acquired a new position in Equity LifeStyle Properties in the third quarter valued at $252,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ELS has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price for the company. Truist Financial dropped their price target on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research note 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 research note 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 research note on Friday, February 9th. Finally, Barclays dropped their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.85.

Equity LifeStyle Properties Price Performance

ELS stock opened at $62.30 on Friday. The firm has a market cap of $11.62 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 3.68 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 company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a 50-day simple moving average of $63.01 and a 200-day simple moving average of $66.69.

Equity LifeStyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio is currently 104.37%.

Equity LifeStyle Properties Profile

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.