Renaissance Technologies LLC Buys 74,800 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Renaissance Technologies LLC boosted its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 23.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 387,600 shares of the real estate investment trust’s stock after buying an additional 74,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.20% of Equity LifeStyle Properties worth $25,814,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. MML Investors Services LLC lifted its position in shares of Equity LifeStyle Properties by 10.4% during the third quarter. MML Investors Services LLC now owns 8,202 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 770 shares in the last quarter. Vestcor Inc lifted its position in shares of Equity LifeStyle Properties by 34.9% during the 3rd quarter. Vestcor Inc now owns 5,609 shares of the real estate investment trust’s stock worth $400,000 after buying an additional 1,450 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Equity LifeStyle Properties by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,833,596 shares of the real estate investment trust’s stock worth $273,014,000 after buying an additional 65,191 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Equity LifeStyle Properties by 31.4% in the third quarter. Toronto Dominion Bank now owns 22,296 shares of the real estate investment trust’s stock valued at $1,591,000 after acquiring an additional 5,322 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of Equity LifeStyle Properties by 95.3% during the third quarter. Sanctuary Advisors LLC now owns 32,578 shares of the real estate investment trust’s stock valued at $2,311,000 after acquiring an additional 15,899 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ELS has been the topic of several research analyst reports. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research report on Tuesday, April 8th. They issued a “buy” rating and a $80.00 price objective on the stock. Royal Bank of Canada cut their price target on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 29th. Truist Financial upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Evercore ISI dropped their target price on shares of 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. Finally, Robert W. Baird raised their price target on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.20.

Equity LifeStyle Properties Stock Performance

NYSE ELS opened at $64.31 on Friday. The company’s 50 day moving average is $66.59 and its 200-day moving average is $67.85. The firm has a market cap of $12.29 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. Equity LifeStyle Properties, Inc. has a 12-month low of $58.86 and a 12-month high of $76.60. 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 (NYSE:ELS) last issued its 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 net margin of 24.05% and a return on equity of 23.12%. Sell-side analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Friday, March 28th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s 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.