Daiwa Securities Group Inc. Has $149.49 Million Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Daiwa Securities Group Inc. cut its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,244,631 shares of the real estate investment trust’s stock after selling 84,800 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Equity LifeStyle Properties were worth $149,493,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ELS. Townsquare Capital LLC boosted its holdings in shares of Equity LifeStyle Properties by 23.7% in the 3rd quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust’s stock valued at $916,000 after buying an additional 2,458 shares during the last quarter. Vert Asset Management LLC raised its position in Equity LifeStyle Properties by 9.8% during the fourth quarter. Vert Asset Management LLC now owns 79,516 shares of the real estate investment trust’s stock worth $5,296,000 after acquiring an additional 7,092 shares in the last quarter. Empowered Funds LLC acquired a new stake in Equity LifeStyle Properties in the fourth quarter valued at $380,000. Victory Capital Management Inc. grew its position in shares of Equity LifeStyle Properties by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock valued at $331,707,000 after acquiring an additional 39,864 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Equity LifeStyle Properties by 16.7% during the 3rd quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock worth $15,210,000 after purchasing an additional 30,489 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ELS shares. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and raised their target price for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and boosted their target price for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. Evercore ISI dropped their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada reduced their price objective on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.78.

Equity LifeStyle Properties Stock Up 1.2 %

ELS stock opened at $68.56 on Monday. Equity LifeStyle Properties, Inc. has a fifty-two week low of $59.82 and a fifty-two week high of $76.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 3.02 and a beta of 0.79. The business’s fifty day moving average price is $66.48 and its two-hundred day moving average price is $69.04.

Equity LifeStyle Properties (NYSE:ELS) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. On average, equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, March 28th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 105.64%.

Equity LifeStyle Properties Company Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.