Brevan Howard Capital Management LP Raises Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Brevan Howard Capital Management LP boosted its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 127.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,928 shares of the real estate investment trust’s stock after acquiring an additional 24,041 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Equity LifeStyle Properties were worth $2,859,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of Equity LifeStyle Properties by 172.0% during the 4th quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust’s stock valued at $404,319,000 after purchasing an additional 3,838,809 shares in the last quarter. Invesco Ltd. grew its position in Equity LifeStyle Properties by 592.7% during the fourth quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust’s stock valued at $260,955,000 after buying an additional 3,352,584 shares during the period. Norges Bank purchased a new position in Equity LifeStyle Properties in the fourth quarter valued at $163,212,000. Northern Trust Corp raised its position in shares of Equity LifeStyle Properties by 43.3% in the fourth quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust’s stock worth $162,162,000 after acquiring an additional 735,580 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC purchased a new stake in shares of Equity LifeStyle Properties during the 4th quarter worth about $41,391,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Stock Down 1.1 %

NYSE ELS opened at $64.99 on Tuesday. The business has a fifty day moving average price of $66.00 and a 200 day moving average price of $67.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. The company has a market cap of $12.42 billion, a P/E ratio of 33.33, a P/E/G ratio of 3.02 and a beta of 0.76. Equity LifeStyle Properties, Inc. has a one year low of $58.86 and a one year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, April 21st. The real estate investment trust reported $0.83 EPS for the quarter, meeting analysts’ consensus estimates of $0.83. The business had revenue of $327.21 million during the quarter, compared to analysts’ expectations of $391.34 million. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. During the same period in the prior year, the business earned $0.59 earnings per share. Research analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, June 27th. Equity LifeStyle Properties’s dividend payout ratio is currently 106.74%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore ISI cut 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. Deutsche Bank Aktiengesellschaft upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Jefferies Financial Group assumed coverage on Equity LifeStyle Properties in a research report on Tuesday, April 8th. They set a “buy” rating and a $80.00 target price on the stock. Royal Bank of Canada dropped 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 research note on Wednesday, January 29th. Finally, Robert W. Baird upped their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.33.

About Equity LifeStyle Properties

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.