Sterling Capital Management LLC Purchases 4,192 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Sterling Capital Management LLC raised its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 59.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,216 shares of the real estate investment trust’s stock after acquiring an additional 4,192 shares during the period. Sterling Capital Management LLC’s holdings in Equity LifeStyle Properties were worth $747,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. National Pension Service purchased a new position in Equity LifeStyle Properties in the 4th quarter worth $25,000. Bessemer Group Inc. grew its stake in shares of Equity LifeStyle Properties by 121.4% during the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 210 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Equity LifeStyle Properties during the 4th quarter worth approximately $30,000. Board of the Pension Protection Fund purchased a new stake in shares of Equity LifeStyle Properties during the fourth quarter valued at approximately $33,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Equity LifeStyle Properties by 43.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 171 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ELS. Jefferies Financial Group initiated coverage on shares of Equity LifeStyle Properties in a research report on Tuesday, April 8th. They set a “buy” rating and a $80.00 price target for the company. Royal Bank of Canada reduced their price target on 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. Robert W. Baird lifted their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded 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 report on Tuesday, January 21st. Finally, BMO Capital Markets upgraded shares of Equity LifeStyle Properties from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.20.

Equity LifeStyle Properties Price Performance

Shares of ELS opened at $64.89 on Thursday. Equity LifeStyle Properties, Inc. has a fifty-two week low of $58.86 and a fifty-two week high of $76.60. The firm’s 50-day simple moving average is $66.53 and its two-hundred day simple moving average is $67.75. The stock has a market cap of $12.40 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02.

Equity LifeStyle Properties (NYSE:ELS) last posted 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 return on equity of 23.12% and a net margin of 24.05%. Analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was 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%.

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.