K.J. Harrison & Partners Inc Purchases New Shares in Equity LifeStyle Properties, Inc. (NYSE:ELS)

K.J. Harrison & Partners Inc purchased a new stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,685 shares of the real estate investment trust’s stock, valued at approximately $330,000.

Several other hedge funds have also recently modified their holdings of ELS. Cornercap Investment Counsel Inc. purchased a new stake in Equity LifeStyle Properties during the fourth quarter worth about $956,000. Arizona State Retirement System increased its position in Equity LifeStyle Properties by 0.8% in the fourth quarter. Arizona State Retirement System now owns 48,637 shares of the real estate investment trust’s stock worth $3,431,000 after buying an additional 375 shares during the last quarter. State of Michigan Retirement System increased its stake in shares of Equity LifeStyle Properties by 0.4% in the fourth quarter. State of Michigan Retirement System now owns 44,700 shares of the real estate investment trust’s stock worth $3,153,000 after purchasing an additional 200 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of Equity LifeStyle Properties during the 3rd quarter valued at approximately $384,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Equity LifeStyle Properties by 3.4% in the third quarter. Janney Montgomery Scott LLC now owns 163,018 shares of the real estate investment trust’s stock worth $10,386,000 after acquiring an additional 5,318 shares during the period. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Price Performance

Equity LifeStyle Properties stock traded down $0.22 during midday trading on Friday, reaching $60.53. 1,117,333 shares of the stock traded hands, compared to its average volume of 1,401,162. The stock has a market cap of $11.29 billion, a P/E ratio of 33.07, a PEG ratio of 4.00 and a beta of 0.69. The stock’s fifty day moving average is $64.41 and its 200-day moving average is $67.06. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33. Equity LifeStyle Properties, Inc. has a 12 month low of $60.47 and a 12 month high of $74.04.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were issued a $0.477 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.15%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

Wall Street Analyst Weigh In

ELS has been the subject of a number of analyst reports. Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Friday, February 9th. Truist Financial decreased their target price on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price for the company. Barclays dropped their price target on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Seven research 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, the stock has a consensus rating of “Hold” and a consensus target price of $69.55.

Equity LifeStyle Properties 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.