KLP Kapitalforvaltning AS Purchases New Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

KLP Kapitalforvaltning AS acquired a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 60,800 shares of the real estate investment trust’s stock, valued at approximately $4,074,000.

Other large investors have also recently made changes to their positions in the company. Citigroup Inc. raised its holdings in shares of Equity LifeStyle Properties by 16.7% in the 3rd quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock worth $15,210,000 after acquiring an additional 30,489 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Equity LifeStyle Properties by 43.5% in the third quarter. Cerity Partners LLC now owns 81,540 shares of the real estate investment trust’s stock worth $5,817,000 after purchasing an additional 24,727 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Equity LifeStyle Properties in the third quarter valued at approximately $117,000. Bank of Montreal Can boosted its position in shares of Equity LifeStyle Properties by 27.9% during the third quarter. Bank of Montreal Can now owns 693,190 shares of the real estate investment trust’s stock valued at $49,050,000 after buying an additional 151,273 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Equity LifeStyle Properties by 13.2% during the third quarter. The Manufacturers Life Insurance Company now owns 165,021 shares of the real estate investment trust’s stock worth $11,773,000 after buying an additional 19,282 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

ELS has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price objective on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 29th. Truist Financial raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price objective for the stock from $72.00 to $80.00 in a research report on Thursday, January 2nd. Robert W. Baird increased their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Evercore ISI cut their target price on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.78.

Equity LifeStyle Properties Stock Up 0.4 %

Equity LifeStyle Properties stock opened at $67.09 on Thursday. The firm has a 50 day moving average price of $66.98 and a 200-day moving average price of $68.70. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a market capitalization of $12.82 billion, a P/E ratio of 34.41, a P/E/G ratio of 3.02 and a beta of 0.79.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, hitting 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, equities analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.515 per share. The ex-dividend date is Friday, March 28th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $2.06 annualized dividend and a yield of 3.07%. Equity LifeStyle Properties’s dividend payout ratio is 105.64%.

Equity LifeStyle Properties Company 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.