Ceredex Value Advisors LLC Boosts Position in Equity Lifestyle Properties, Inc. $ELS

Ceredex Value Advisors LLC raised its position in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 805,953 shares of the real estate investment trust’s stock after acquiring an additional 11,025 shares during the period. Equity Lifestyle Properties comprises approximately 1.1% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Ceredex Value Advisors LLC’s holdings in Equity Lifestyle Properties were worth $48,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased its position in shares of Equity Lifestyle Properties by 126.9% during the 3rd quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 321 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Equity Lifestyle Properties by 204.1% in the second quarter. Allworth Financial LP now owns 660 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 443 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Equity Lifestyle Properties by 81.8% during the third quarter. Smartleaf Asset Management LLC now owns 840 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 378 shares during the period. Huntington National Bank grew its position in Equity Lifestyle Properties by 84.6% during the third quarter. Huntington National Bank now owns 1,100 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 504 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its holdings in Equity Lifestyle Properties by 27.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,250 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 269 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Stock Up 0.4%

ELS opened at $67.62 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $70.35. The firm’s fifty day moving average is $64.49 and its 200 day moving average is $62.50. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 3.74 and a beta of 0.75.

Equity Lifestyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a dividend of $0.5425 per share. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, March 27th. Equity Lifestyle Properties’s payout ratio is 102.49%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ELS. Truist Financial increased their price target on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the stock a “hold” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $70.00 price objective on shares of Equity Lifestyle Properties in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equity Lifestyle Properties in a report on Thursday, January 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 target price (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $70.00 price target (up from $68.00) on shares of Equity Lifestyle Properties in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.42.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.