Commerce Bank Boosts Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Commerce Bank lifted its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 18.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 116,387 shares of the real estate investment trust’s stock after purchasing an additional 18,261 shares during the quarter. Commerce Bank owned 0.06% of Equity LifeStyle Properties worth $7,495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mather Group LLC. bought a new stake in Equity LifeStyle Properties in the first quarter worth $25,000. Rise Advisors LLC bought a new stake in shares of Equity LifeStyle Properties during the first quarter worth $27,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Equity LifeStyle Properties during the fourth quarter worth $35,000. Headlands Technologies LLC lifted its position in shares of Equity LifeStyle Properties by 143.8% during the fourth quarter. Headlands Technologies LLC now owns 624 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 368 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Equity LifeStyle Properties during the fourth quarter worth $44,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on ELS shares. Truist Financial decreased their target price on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Barclays reduced their target price on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Hold” and a consensus price target of $68.85.

Equity LifeStyle Properties Stock Up 0.6 %

ELS opened at $64.57 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03. Equity LifeStyle Properties, Inc. has a one year low of $59.82 and a one year high of $74.04. The business’s fifty day moving average is $63.25 and its two-hundred day moving average is $65.08. The company has a market cap of $12.04 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 3.66 and a beta of 0.77.

Equity LifeStyle Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.477 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.91 annualized dividend and a yield of 2.95%. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Equity LifeStyle Properties Company Profile

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.