3,104 Shares in Equity LifeStyle Properties, Inc. (NYSE:ELS) Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management bought a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the fourth quarter, HoldingsChannel.com reports. The firm bought 3,104 shares of the real estate investment trust’s stock, valued at approximately $219,000.

Other hedge funds have also recently bought and sold shares of the company. Retirement Systems of Alabama boosted its position in Equity LifeStyle Properties by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 233,448 shares of the real estate investment trust’s stock worth $16,467,000 after acquiring an additional 863 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in Equity LifeStyle Properties during the fourth quarter worth approximately $956,000. Arizona State Retirement System boosted its position in Equity LifeStyle Properties by 0.8% during the fourth quarter. Arizona State Retirement System now owns 48,637 shares of the real estate investment trust’s stock worth $3,431,000 after acquiring an additional 375 shares during the last quarter. Farrow Financial Inc. acquired a new stake in Equity LifeStyle Properties during the fourth quarter worth approximately $1,467,000. Finally, State of Michigan Retirement System boosted its position in Equity LifeStyle Properties by 0.4% during the fourth quarter. State of Michigan Retirement System now owns 44,700 shares of the real estate investment trust’s stock worth $3,153,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ELS shares. Truist Financial decreased their price target on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Barclays decreased their price target on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target on the stock. Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Friday, February 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $68.85.

Equity LifeStyle Properties Stock Performance

Equity LifeStyle Properties stock opened at $64.09 on Thursday. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $74.04. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 3.71 and a beta of 0.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03. The firm’s fifty day moving average price is $63.08 and its 200 day moving average price is $66.72.

Equity LifeStyle Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

About Equity LifeStyle Properties

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.