State of Michigan Retirement System Buys 1,100 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

State of Michigan Retirement System raised its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,800 shares of the real estate investment trust’s stock after buying an additional 1,100 shares during the quarter. State of Michigan Retirement System’s holdings in Equity LifeStyle Properties were worth $2,950,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Equity LifeStyle Properties by 1.9% during the third 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 in the last quarter. Chai Trust Co. LLC raised its stake in Equity LifeStyle Properties by 1.1% during the third quarter. Chai Trust Co. LLC now owns 9,055,685 shares of the real estate investment trust’s stock worth $576,938,000 after acquiring an additional 102,696 shares in the last quarter. Norges Bank acquired a new position in Equity LifeStyle Properties during the fourth quarter worth $455,623,000. Massachusetts Financial Services Co. MA raised its stake in Equity LifeStyle Properties by 17.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock worth $193,533,000 after acquiring an additional 410,042 shares in the last quarter. Finally, Boston Partners raised its stake in Equity LifeStyle Properties by 122.4% during the fourth quarter. Boston Partners now owns 2,728,675 shares of the real estate investment trust’s stock worth $192,469,000 after acquiring an additional 1,501,692 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELS has been the subject of several recent analyst reports. Truist Financial dropped their price objective on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Barclays decreased their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $68.85.

Equity LifeStyle Properties Price Performance

Shares of ELS stock opened at $63.61 on Thursday. The stock’s fifty day moving average is $62.91 and its 200-day moving average is $65.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market capitalization of $11.86 billion, a PE ratio of 34.76, a PEG ratio of 3.74 and a beta of 0.77. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $74.04.

Equity LifeStyle Properties Dividend Announcement

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 issued a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio 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.