Arizona State Retirement System Has $3.45 Million Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Arizona State Retirement System raised its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS – Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 51,402 shares of the real estate investment trust’s stock after acquiring an additional 1,365 shares during the quarter. Arizona State Retirement System’s holdings in Equity LifeStyle Properties were worth $3,451,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELS. Norges Bank bought a new stake in shares of Equity LifeStyle Properties in the 4th quarter valued at $229,283,000. Price T Rowe Associates Inc. MD boosted its stake in Equity LifeStyle Properties by 30.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,735,330 shares of the real estate investment trust’s stock worth $499,702,000 after acquiring an additional 1,798,649 shares in the last quarter. Invesco Ltd. boosted its stake in Equity LifeStyle Properties by 147.1% during the first quarter. Invesco Ltd. now owns 2,541,777 shares of the real estate investment trust’s stock worth $194,396,000 after acquiring an additional 1,512,944 shares in the last quarter. State Street Corp boosted its stake in Equity LifeStyle Properties by 13.0% during the first quarter. State Street Corp now owns 8,817,442 shares of the real estate investment trust’s stock worth $677,864,000 after acquiring an additional 1,016,542 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Equity LifeStyle Properties by 28.5% during the fourth quarter. Deutsche Bank AG now owns 3,009,050 shares of the real estate investment trust’s stock worth $194,385,000 after acquiring an additional 667,132 shares in the last quarter. 91.06% of the stock is currently owned by institutional investors and hedge funds.

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Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $65.95 on Wednesday. The firm has a 50-day moving average of $66.22 and a 200-day moving average of $67.19. The company has a market cap of $12.28 billion, a P/E ratio of 43.10, a P/E/G ratio of 4.93 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a one year low of $56.91 and a one year high of $77.36.

Equity LifeStyle Properties (NYSE:ELS – Get Free Report) last posted its quarterly earnings data on Monday, July 17th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). Equity LifeStyle Properties had a return on equity of 18.82% and a net margin of 19.53%. The company had revenue of $370.01 million for the quarter, compared to analysts’ expectations of $325.08 million. During the same quarter last year, the business posted $0.64 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts forecast that Equity LifeStyle Properties, Inc. will post 2.85 EPS for the current fiscal year.

Equity LifeStyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a dividend of $0.447 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.79 dividend on an annualized basis and a yield of 2.71%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 116.99%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ELS shares. StockNews.com started coverage on shares of Equity LifeStyle Properties in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Royal Bank of Canada dropped their price objective on shares of Equity LifeStyle Properties from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 19th. Barclays dropped their price objective on shares of Equity LifeStyle Properties from $79.00 to $78.00 in a research note on Thursday, July 6th. Finally, Wells Fargo & Company started coverage on shares of Equity LifeStyle Properties in a report on Wednesday, March 29th. They issued an “overweight” rating and a $75.50 target price for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Equity LifeStyle Properties presently has a consensus rating of “Moderate Buy” and an average target price of $76.17.

Equity LifeStyle Properties Company Profile

(Free Report)

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of April 17, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,477 sites.

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