State of New Jersey Common Pension Fund D Raises Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

State of New Jersey Common Pension Fund D boosted its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 270,720 shares of the real estate investment trust’s stock after purchasing an additional 2,419 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Equity LifeStyle Properties were worth $19,097,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cornercap Investment Counsel Inc. purchased a new stake in shares of Equity LifeStyle Properties in the fourth quarter valued at about $956,000. Arizona State Retirement System boosted its holdings in Equity LifeStyle Properties by 0.8% during the fourth quarter. Arizona State Retirement System now owns 48,637 shares of the real estate investment trust’s stock worth $3,431,000 after buying an additional 375 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Equity LifeStyle Properties by 0.4% during the fourth quarter. State of Michigan Retirement System now owns 44,700 shares of the real estate investment trust’s stock worth $3,153,000 after buying an additional 200 shares in the last quarter. Duality Advisers LP acquired a new position in Equity LifeStyle Properties during the third quarter worth about $384,000. Finally, Janney Montgomery Scott LLC raised its position in Equity LifeStyle Properties by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 163,018 shares of the real estate investment trust’s stock worth $10,386,000 after acquiring an additional 5,318 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Equity LifeStyle Properties Stock Performance

Shares of ELS stock traded down $0.57 during trading hours on Thursday, reaching $60.75. The stock had a trading volume of 971,626 shares, compared to its average volume of 1,252,582. 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, Inc. has a twelve month low of $60.47 and a twelve month high of $74.04. The firm has a 50-day simple moving average of $64.64 and a 200-day simple moving average of $67.12. The firm has a market capitalization of $11.33 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 3.68 and a beta of 0.69.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a 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 dividend payout ratio is currently 104.37%.

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.