Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELSFree Report) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 344,440 shares of the real estate investment trust’s stock after buying an additional 4,223 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.18% of Equity LifeStyle Properties worth $21,944,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Eagle Bay Advisors LLC purchased a new stake in shares of Equity LifeStyle Properties during the 2nd quarter valued at about $30,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Equity LifeStyle Properties during the 1st quarter valued at about $59,000. Second Half Financial Partners LLC purchased a new stake in shares of Equity LifeStyle Properties during the 3rd quarter valued at about $66,000. Huntington National Bank raised its holdings in shares of Equity LifeStyle Properties by 73.4% during the 2nd quarter. Huntington National Bank now owns 1,370 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 580 shares during the period. Finally, Arlington Partners LLC raised its holdings in shares of Equity LifeStyle Properties by 36.5% during the 3rd quarter. Arlington Partners LLC now owns 1,454 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 389 shares during the period. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Trading Up 0.6 %

Shares of ELS stock opened at $66.81 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties, Inc. has a 1 year low of $60.47 and a 1 year high of $74.04. The stock has a fifty day moving average of $69.63 and a two-hundred day moving average of $67.92. The firm has a market capitalization of $12.45 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 3.94 and a beta of 0.71.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Wednesday, March 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s payout ratio is 106.55%.

Wall Street Analyst Weigh In

ELS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price objective on the stock. Bank of America downgraded Equity LifeStyle Properties from a “buy” rating to a “neutral” rating and lowered their price target for the company from $70.00 to $64.00 in a report on Monday, October 23rd. 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 report on Friday. Truist Financial lowered their price target on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, January 24th. Finally, StockNews.com upgraded Equity LifeStyle Properties from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $70.15.

Get Our Latest Stock Report on Equity LifeStyle Properties

About Equity LifeStyle Properties

(Free Report)

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of October 16, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,707 sites.

See Also

Institutional Ownership by Quarter for Equity LifeStyle Properties (NYSE:ELS)

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