Lasalle Investment Management Securities LLC Invests $50.81 Million in Equity Lifestyle Properties, Inc. $ELS

Lasalle Investment Management Securities LLC acquired a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 837,066 shares of the real estate investment trust’s stock, valued at approximately $50,810,000. Equity Lifestyle Properties comprises about 2.0% of Lasalle Investment Management Securities LLC’s investment portfolio, making the stock its 21st largest holding.

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

Equity Lifestyle Properties Trading Down 0.8%

ELS stock opened at $67.25 on Friday. Equity Lifestyle Properties, Inc. has a 1-year low of $58.15 and a 1-year high of $70.35. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $63.71 and its 200-day moving average is $62.17. The firm has a market cap of $13.04 billion, a P/E ratio of 33.46, a P/E/G ratio of 3.73 and a beta of 0.76.

Equity Lifestyle Properties Increases Dividend

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

Wall Street Analysts Forecast Growth

ELS has been the topic of several research analyst reports. Wells Fargo & Company restated an “equal weight” rating and issued a $70.00 price target (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Friday. UBS Group set a $67.00 target price on Equity Lifestyle Properties and gave the stock a “buy” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft downgraded Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Tuesday, January 20th. Finally, BMO Capital Markets restated an “outperform” rating and set a $75.00 price objective (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Equity Lifestyle Properties has a consensus rating of “Moderate Buy” and a consensus target price of $70.42.

About Equity Lifestyle Properties

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.