Entropy Technologies LP Invests $3.39 Million in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Entropy Technologies LP purchased a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 52,628 shares of the real estate investment trust’s stock, valued at approximately $3,389,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Equity LifeStyle Properties by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 24,909,450 shares of the real estate investment trust’s stock worth $1,586,981,000 after acquiring an additional 472,855 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Equity LifeStyle Properties during the fourth quarter valued at $47,000. Marshall Financial Group LLC boosted its stake in shares of Equity LifeStyle Properties by 6.2% during the fourth quarter. Marshall Financial Group LLC now owns 12,963 shares of the real estate investment trust’s stock valued at $914,000 after purchasing an additional 756 shares during the period. Aurora Investment Managers LLC. increased its stake in Equity LifeStyle Properties by 13.5% in the 4th quarter. Aurora Investment Managers LLC. now owns 17,838 shares of the real estate investment trust’s stock worth $1,258,000 after buying an additional 2,117 shares during the period. Finally, Handelsinvest Investeringsforvaltning purchased a new position in Equity LifeStyle Properties in the 4th quarter worth about $493,000. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Stock Performance

NYSE:ELS traded up $1.00 during midday trading on Wednesday, hitting $68.97. The company’s stock had a trading volume of 1,079,817 shares, compared to its average volume of 1,228,374. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $74.04. 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 has a market cap of $12.86 billion, a P/E ratio of 37.69, a P/E/G ratio of 3.96 and a beta of 0.77. The firm’s 50 day moving average is $63.68 and its 200-day moving average is $64.95.

Equity LifeStyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.477 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.77%. Equity LifeStyle Properties’s payout ratio is 104.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ELS shares. Barclays dropped their target price on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Truist Financial dropped their price objective on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.85.

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.