Commerzbank Aktiengesellschaft FI Purchases New Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Commerzbank Aktiengesellschaft FI purchased a new stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,052 shares of the real estate investment trust’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently modified their holdings of the business. Carmel Capital Partners LLC boosted its stake in shares of Equity LifeStyle Properties by 17.9% in the fourth quarter. Carmel Capital Partners LLC now owns 4,646 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 706 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Equity LifeStyle Properties by 40.5% in the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 182 shares in the last quarter. abrdn plc boosted its stake in shares of Equity LifeStyle Properties by 3.0% in the fourth quarter. abrdn plc now owns 529,055 shares of the real estate investment trust’s stock valued at $37,320,000 after buying an additional 15,297 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Equity LifeStyle Properties in the fourth quarter valued at approximately $35,000. Finally, Desjardins Global Asset Management Inc. boosted its stake in shares of Equity LifeStyle Properties by 42.6% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,620 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 484 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on ELS shares. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft started coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $64.00 target price on the stock. Truist Financial decreased their target price on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating on the stock in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.15.

Equity LifeStyle Properties Stock Performance

NYSE ELS opened at $62.70 on Tuesday. Equity LifeStyle Properties, Inc. has a fifty-two week low of $60.47 and a fifty-two week high of $74.04. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 3.73 and a beta of 0.69. The business has a fifty day moving average of $64.83 and a 200-day moving average of $67.18. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.04%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, March 27th. Equity LifeStyle Properties’s payout ratio is 113.69%.

Equity LifeStyle Properties Company 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.