State of New Jersey Common Pension Fund D Acquires 2,419 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

State of New Jersey Common Pension Fund D raised its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 270,720 shares of the real estate investment trust’s stock after acquiring an additional 2,419 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.15% of Equity LifeStyle Properties worth $19,097,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ELS. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at about $35,000. GAMMA Investing LLC purchased a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at about $44,000. Lindbrook Capital LLC grew its position in shares of Equity LifeStyle Properties by 40.5% during the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 182 shares in the last quarter. Anchor Investment Management LLC purchased a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at about $47,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Equity LifeStyle Properties during the third quarter valued at about $64,000. 97.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ELS. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Truist Financial dropped their price target 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. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target for the company. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.15.

Equity LifeStyle Properties Trading Down 0.9 %

Shares of NYSE:ELS traded down $0.57 during trading hours on Thursday, hitting $60.75. 971,626 shares of the company’s stock traded hands, compared to its average volume of 1,252,582. Equity LifeStyle Properties, Inc. has a 1 year low of $60.47 and a 1 year high of $74.04. The business has a fifty day moving average price of $64.64 and a 200-day moving average price of $67.12. The firm has a market capitalization of $11.33 billion, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 3.68 and a beta of 0.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were given a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s payout ratio is 104.37%.

About Equity LifeStyle Properties

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.