Argosy Lionbridge Management LLC Makes New Investment in Equity Lifestyle Properties, Inc. $ELS

Argosy Lionbridge Management LLC acquired a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) during the third quarter, Holdings Channel reports. The institutional investor acquired 61,000 shares of the real estate investment trust’s stock, valued at approximately $3,703,000. Equity Lifestyle Properties accounts for 2.4% of Argosy Lionbridge Management LLC’s portfolio, making the stock its 11th largest holding.

Several other institutional investors have also recently made changes to their positions in ELS. Bessemer Group Inc. lifted its stake in shares of Equity Lifestyle Properties by 126.9% in the 3rd quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 321 shares during the period. Allworth Financial LP grew its position in Equity Lifestyle Properties by 204.1% during the second quarter. Allworth Financial LP now owns 660 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 443 shares during the period. Smartleaf Asset Management LLC grew its position in Equity Lifestyle Properties by 81.8% during the third quarter. Smartleaf Asset Management LLC now owns 840 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 378 shares during the period. Huntington National Bank increased its holdings in Equity Lifestyle Properties by 84.6% in the third quarter. Huntington National Bank now owns 1,100 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 504 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in shares of Equity Lifestyle Properties by 27.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,250 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 269 shares during the period. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity Lifestyle Properties Stock Down 0.1%

ELS opened at $67.83 on Friday. The company has a market cap of $13.16 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 3.77 and a beta of 0.75. Equity Lifestyle Properties, Inc. has a twelve month low of $58.15 and a twelve month high of $69.28. The company has a 50-day moving average price of $65.06 and a 200 day moving average price of $62.70. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.30.

Equity Lifestyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, March 27th. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.2%. Equity Lifestyle Properties’s payout ratio is currently 102.49%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays reissued an “overweight” rating and set a $71.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Thursday, February 5th. Bank of America raised Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a report on Tuesday, February 3rd. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price target (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. Zacks Research raised Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft downgraded Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Equity Lifestyle Properties has an average rating of “Moderate Buy” and an average price target of $70.42.

Equity Lifestyle Properties Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.