Centersquare Investment Management LLC Acquires 657 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Centersquare Investment Management LLC grew its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 108,687 shares of the real estate investment trust’s stock after purchasing an additional 657 shares during the quarter. Centersquare Investment Management LLC’s holdings in Equity LifeStyle Properties were worth $7,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ELS. Principal Financial Group Inc. grew its stake in shares of Equity LifeStyle Properties by 172.0% in the fourth 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 buying an additional 3,838,809 shares in the last quarter. Norges Bank bought a new position in shares of Equity LifeStyle Properties in the 4th quarter valued at about $163,212,000. Quantinno Capital Management LP increased its stake in shares of Equity LifeStyle Properties by 14,049.2% during the 3rd quarter. Quantinno Capital Management LP now owns 713,971 shares of the real estate investment trust’s stock worth $50,935,000 after purchasing an additional 708,925 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of Equity LifeStyle Properties during the 4th quarter worth about $41,391,000. Finally, Vanguard Group Inc. raised its holdings in shares of Equity LifeStyle Properties by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 25,053,845 shares of the real estate investment trust’s stock valued at $1,668,586,000 after purchasing an additional 388,888 shares during the period. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Trading Up 1.9 %

ELS opened at $67.95 on Friday. The stock has a market capitalization of $12.99 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 3.02 and a beta of 0.72. 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 50-day simple moving average of $67.00 and a 200 day simple moving average of $68.39.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. Analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 105.64%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI dropped their price target on 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. Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Royal Bank of Canada lowered 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 report on Wednesday, January 29th. Finally, Robert W. Baird boosted 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. Three 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.78.

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.