Retirement Systems of Alabama Boosts Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Retirement Systems of Alabama lifted its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 27.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,404 shares of the real estate investment trust’s stock after purchasing an additional 62,956 shares during the period. Retirement Systems of Alabama owned about 0.16% of Equity LifeStyle Properties worth $19,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Equity LifeStyle Properties by 1.9% in the third quarter. Vanguard Group Inc. now owns 24,909,450 shares of the real estate investment trust’s stock worth $1,586,981,000 after acquiring an additional 472,855 shares during the period. Chai Trust Co. LLC raised its holdings in Equity LifeStyle Properties by 1.1% in the 3rd quarter. Chai Trust Co. LLC now owns 9,055,685 shares of the real estate investment trust’s stock worth $576,938,000 after purchasing an additional 102,696 shares during the period. Norges Bank purchased a new position in Equity LifeStyle Properties during the fourth quarter worth approximately $455,623,000. Massachusetts Financial Services Co. MA grew its holdings in Equity LifeStyle Properties by 17.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock valued at $193,533,000 after purchasing an additional 410,042 shares during the period. Finally, Boston Partners increased its position in shares of Equity LifeStyle Properties by 122.4% in the fourth quarter. Boston Partners now owns 2,728,675 shares of the real estate investment trust’s stock valued at $192,469,000 after buying an additional 1,501,692 shares in the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Price Performance

Shares of ELS stock traded up $0.40 during trading hours on Friday, reaching $64.00. The company had a trading volume of 625,388 shares, compared to its average volume of 1,238,226. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $74.04. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 3.65 and a beta of 0.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a fifty day moving average of $62.97 and a 200-day moving average of $65.32.

Equity LifeStyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ELS. Barclays decreased their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Truist Financial dropped their target price on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.85.

Equity LifeStyle Properties 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.