Equity LifeStyle Properties, Inc. (NYSE:ELS) Stake Raised by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 172.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,070,817 shares of the real estate investment trust’s stock after acquiring an additional 3,838,809 shares during the quarter. Principal Financial Group Inc. owned approximately 3.18% of Equity LifeStyle Properties worth $404,319,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ELS. Townsquare Capital LLC lifted its holdings in shares of Equity LifeStyle Properties by 23.7% during the third quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust’s stock worth $916,000 after buying an additional 2,458 shares during the last quarter. Vert Asset Management LLC raised its stake in Equity LifeStyle Properties by 9.8% during the fourth quarter. Vert Asset Management LLC now owns 79,516 shares of the real estate investment trust’s stock worth $5,296,000 after acquiring an additional 7,092 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Equity LifeStyle Properties by 0.9% during the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock worth $331,707,000 after purchasing an additional 39,864 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Equity LifeStyle Properties by 16.7% during the third quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock worth $15,210,000 after purchasing an additional 30,489 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Equity LifeStyle Properties by 6.4% during the fourth quarter. Nordea Investment Management AB now owns 21,574 shares of the real estate investment trust’s stock worth $1,432,000 after purchasing an additional 1,301 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Robert W. Baird increased their target price on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Compass Point lifted their target price on Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Evercore ISI reduced their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and boosted their price target for the company from $72.00 to $80.00 in a research note on Thursday, January 2nd. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Equity LifeStyle Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.78.

Equity LifeStyle Properties Trading Down 2.2 %

NYSE ELS opened at $65.47 on Monday. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $76.60. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $66.62 and a 200-day moving average of $69.43. The firm has a market cap of $12.51 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 2.82 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. As a group, sell-side analysts forecast that Equity LifeStyle Properties, Inc. will post 3.1 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.515 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $2.06 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, March 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 97.95%.

Equity LifeStyle Properties Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.