Bahl & Gaynor Inc. Increases Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Bahl & Gaynor Inc. raised its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 156,254 shares of the real estate investment trust’s stock after buying an additional 3,802 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Equity LifeStyle Properties were worth $11,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ELS. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Equity LifeStyle Properties during the 4th quarter valued at $35,000. GAMMA Investing LLC purchased a new stake in shares of Equity LifeStyle Properties in the 4th quarter worth $44,000. Lindbrook Capital LLC increased its stake in shares of Equity LifeStyle Properties by 40.5% in the 4th quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 182 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Equity LifeStyle Properties in the 4th quarter worth $47,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Equity LifeStyle Properties in the 3rd quarter worth $64,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock traded down $0.23 during trading on Friday, reaching $60.52. 1,117,333 shares of the stock traded hands, compared to its average volume of 1,250,911. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 4.04 and a beta of 0.69. The business has a fifty day simple moving average of $64.53 and a two-hundred day simple moving average of $67.08. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03. Equity LifeStyle Properties, Inc. has a 52-week low of $60.47 and a 52-week high of $74.04.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a $0.477 dividend. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 27th. This represents a $1.91 dividend on an annualized basis and a yield of 3.15%. Equity LifeStyle Properties’s payout ratio is presently 104.37%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft assumed coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price objective for the company. Truist Financial reduced their price objective on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a research note on Wednesday, January 24th. Barclays reduced their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Wolfe Research raised shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.55.

Equity LifeStyle Properties Company 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.