Resona Asset Management Co. Ltd. Acquires New Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Resona Asset Management Co. Ltd. bought a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,099 shares of the real estate investment trust’s stock, valued at approximately $6,866,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. National Pension Service purchased a new stake in shares of Equity LifeStyle Properties during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new stake in Equity LifeStyle Properties during the fourth quarter worth $30,000. Board of the Pension Protection Fund acquired a new stake in Equity LifeStyle Properties in the fourth quarter valued at $33,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Equity LifeStyle Properties by 43.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 171 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Equity LifeStyle Properties by 68.2% during the 4th quarter. UMB Bank n.a. now owns 898 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 364 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Stock Performance

NYSE ELS opened at $63.29 on Tuesday. The business’s 50-day moving average price is $66.86 and its 200 day moving average price is $68.17. The company has a current ratio of 0.02, a quick ratio of 0.03 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 capitalization of $12.10 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72.

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

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.25%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, March 28th. Equity LifeStyle Properties’s dividend payout ratio is presently 105.64%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ELS. BMO Capital Markets upgraded shares of Equity LifeStyle Properties from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a report on Friday. Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Royal Bank of Canada lowered their target price on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group upgraded Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price objective for the company from $72.00 to $80.00 in a research report on Thursday, January 2nd. Finally, Robert W. Baird lifted their price objective on Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Moderate Buy” and a consensus price target of $74.20.

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.