Cibc World Markets Corp Purchases 4,017 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Cibc World Markets Corp boosted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 6.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,633 shares of the real estate investment trust’s stock after purchasing an additional 4,017 shares during the quarter. Cibc World Markets Corp’s holdings in Equity LifeStyle Properties were worth $4,238,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Moran Wealth Management LLC boosted its stake in Equity LifeStyle Properties by 0.8% in the 3rd quarter. Moran Wealth Management LLC now owns 17,721 shares of the real estate investment trust’s stock valued at $1,264,000 after purchasing an additional 143 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Equity LifeStyle Properties by 43.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 171 shares during the period. Carmel Capital Partners LLC boosted its stake in Equity LifeStyle Properties by 3.6% in the 4th quarter. Carmel Capital Partners LLC now owns 6,533 shares of the real estate investment trust’s stock valued at $435,000 after purchasing an additional 230 shares during the period. Corient Private Wealth LLC boosted its stake in Equity LifeStyle Properties by 1.0% in the 4th quarter. Corient Private Wealth LLC now owns 22,861 shares of the real estate investment trust’s stock valued at $1,523,000 after purchasing an additional 230 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Equity LifeStyle Properties by 2.1% in the 4th quarter. HighTower Advisors LLC now owns 11,446 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 238 shares during the period. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Price Performance

Shares of ELS stock opened at $68.48 on Thursday. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.15. Equity LifeStyle Properties, Inc. has a twelve month low of $59.82 and a twelve month high of $76.60. The company has a market cap of $13.09 billion, a P/E ratio of 35.12, a P/E/G ratio of 3.02 and a beta of 0.79. The business has a fifty day simple moving average of $66.69 and a 200 day simple moving average of $68.87.

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

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is presently 105.64%.

Wall Street Analyst Weigh In

ELS has been the subject of several recent research reports. Truist Financial upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Evercore ISI cut their target price on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a research report on Tuesday, January 28th. Robert W. Baird upped their target price on Equity LifeStyle Properties from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their target price for the company from $72.00 to $80.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada cut their target price on 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 investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.78.

Equity LifeStyle Properties 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.