Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Bought by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 442.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 310,334 shares of the real estate investment trust’s stock after purchasing an additional 253,161 shares during the quarter. ExodusPoint Capital Management LP owned about 0.16% of Equity LifeStyle Properties worth $20,668,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ELS. National Pension Service acquired a new stake in Equity LifeStyle Properties during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Equity LifeStyle Properties in the fourth quarter valued at $30,000. Board of the Pension Protection Fund purchased a new position in Equity LifeStyle Properties in the fourth quarter valued at $33,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Equity LifeStyle Properties by 43.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 171 shares during the period. Finally, UMB Bank n.a. grew its stake in Equity LifeStyle Properties by 68.2% during the 4th quarter. UMB Bank n.a. now owns 898 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ELS. Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their price objective for the company from $72.00 to $80.00 in a research note on Thursday, January 2nd. Evercore ISI lowered their price target on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a report on Tuesday, January 28th. Robert W. Baird raised their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $73.00 in a research report on Tuesday, January 21st. Finally, Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Three equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.78.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $66.64 on Thursday. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60. The firm has a market capitalization of $12.74 billion, a P/E ratio of 34.17, a P/E/G ratio of 3.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. The company’s fifty day moving average price is $66.97 and its 200 day moving average price is $68.39.

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

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.515 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $2.06 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Friday, March 28th. Equity LifeStyle Properties’s dividend payout ratio is presently 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.