Prudential Financial Inc. increased its equity position in Equity LifeStyle Properties, Inc. (NYSE:ELS – Get Rating) by 31.4% in the third quarter, according to its latest disclosure to the Securities and Exchange Commission. The institutional investor owned his 1,103,193 shares of real estate investment trust shares after he purchased an additional 263,724 shares during the period. Prudential Financial Inc. owned approximately 0.59% of an equity lifestyle property valued at $68,718,000 as of its latest filing with the Securities and Exchange Commission.
Other hedge funds have also recently changed their stakes in the company. Private Trust Co. NA acquired a new stake in Equity LifeStyle Properties worth approximately $25,000 in the second quarter. SeaCrest Wealth Management LLC acquired a new stake in his Equity LifeStyle Properties worth approximately $27,000 in the second quarter. Better Money Decisions LLC purchased new shares in Equity LifeStyle Properties worth approximately $27,000 in the second quarter. Wipfli Financial Advisors LLC purchased new shares in Equity LifeStyle Properties worth approximately $25,000 in the third quarter. Finally, Eagle Bay Advisors LLC purchased new equity in Equity LifeStyle Properties worth approximately $30,000 in the second quarter. Institutional investors and hedge funds own 90.65% of the company’s shares.
Analyst upgrades and downgrades
ELS has been the topic of several research analyst reports. Barclays lowered its stock price target for equity lifestyle properties from his $92.00 to his $75.00 in a research note on Friday 7 October, giving the stock an “overweight” rating. Evercore ISI lowered its price target for equity lifestyle properties from $71.00 to $70.00 in its research notes on Tuesday, September 27th. StockNews.com downgraded Equity LifeStyle Properties shares from a ‘hold’ rating to a ‘sell’ rating in a research note on Monday. Truist Financial raised its price target on Equity LifeStyle Properties from $71.00 to $73.00, giving the company a ‘buy’ rating in its research notes on Tuesday, January 17. Finally, Robert W. Baird lowered his price target on Equity LifeStyle Properties stock to $68.00 from his $76.00 in a research note on Tuesday, Oct. 25. One research analyst gave the stock a Sell rating, three assigned a Hold rating, and two assigned a Buy rating. Based on MarketBeat data, the stock has a Consensus Rating of ‘Hold’ and a Consensus Target Price of $74.43.
Equity Lifestyle Property Price Performance
ELS shares Wednesday opened at $68.29. Equity LifeStyle Properties, Inc. has a 52-week low of $56.91 and a 52-week high of $83.80. The stock has a market cap of $12.71 billion, a PE ratio of 45.53, a PEG ratio of 4.68 and a beta of 0.62. The company has an equity ratio of 0.39, a quick ratio of 0.03 and a current ratio of 0.03. The company has a 50-day moving average price of $65.45 and a 200-day moving average price of $67.34.
Equity Lifestyle Property Announces Dividend
The company recently announced its quarterly dividend, which was paid out on Friday, January 13th. Shareholders of record on Friday, December 30 were paid a dividend of $0.41. The ex-dividend date for this dividend was Thursday, December 29. This represents his $1.64 dividend and his 2.40% yield on an annual basis. Equity Lifestyle Properties currently have a payout percentage of 109.33%.
About Equity Lifestyle Properties
We are a self-managed real estate investment trust (REIT) headquartered in Chicago. Owns or owns 423 prime properties comprising 161,229 sites in 33 states and British Columbia as of January 25, 2021.
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