Equity LifeStyle Properties, Inc. (NYSE:ELS) Position Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 134,327 shares of the real estate investment trust’s stock after purchasing an additional 3,096 shares during the quarter. State of Alaska Department of Revenue owned about 0.07% of Equity LifeStyle Properties worth $8,944,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ELS. Geneos Wealth Management Inc. acquired a new stake in shares of Equity LifeStyle Properties in the fourth quarter valued at $30,000. Board of the Pension Protection Fund bought a new stake in Equity LifeStyle Properties in the fourth quarter worth about $33,000. UMB Bank n.a. boosted its position in shares of Equity LifeStyle Properties by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 534 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 417 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of 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 in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Equity LifeStyle Properties by 31.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 613 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 146 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Stock Up 0.6 %

NYSE:ELS opened at $66.38 on Friday. The business’s fifty day moving average price is $67.09 and its 200 day moving average price is $69.44. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.78 and a beta of 0.79. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share 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%. On average, sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 3.1 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.515 per share. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $2.06 annualized dividend and a dividend yield of 3.10%. Equity LifeStyle Properties’s payout ratio is currently 97.95%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group raised shares of Equity LifeStyle Properties to a “strong-buy” rating in a research note on Thursday, October 10th. Evercore ISI cut their price objective on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a research report on Tuesday, January 28th. Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised 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, Robert W. Baird lifted their price target 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, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.90.

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.