Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Equity Lifestyle Properties, Inc. $ELS

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 303,002 shares of the real estate investment trust’s stock after purchasing an additional 9,491 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Equity Lifestyle Properties worth $18,392,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of Equity Lifestyle Properties by 126.9% during the third quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 321 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Equity Lifestyle Properties by 204.1% during the 2nd quarter. Allworth Financial LP now owns 660 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 443 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Equity Lifestyle Properties by 81.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 840 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 378 shares during the period. Wilmington Savings Fund Society FSB grew its position in Equity Lifestyle Properties by 27.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,250 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 269 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Equity Lifestyle Properties by 21.9% in the third quarter. Farther Finance Advisors LLC now owns 1,974 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 354 shares during the period. Institutional investors own 97.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird set a $73.00 target price on shares of Equity Lifestyle Properties in a research note on Friday, January 30th. Barclays reiterated an “overweight” rating and set a $71.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a report on Thursday, February 5th. UBS Group set a $67.00 target price on shares of Equity Lifestyle Properties and gave the stock a “buy” rating in a research note on Thursday, January 8th. BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 target price (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. Finally, Truist Financial boosted their price target on Equity Lifestyle Properties from $66.00 to $69.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.42.

Equity Lifestyle Properties Trading Down 0.8%

NYSE ELS opened at $67.25 on Monday. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year high of $70.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04. The company has a market capitalization of $13.04 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 3.73 and a beta of 0.75. The company’s 50-day simple moving average is $63.71 and its two-hundred day simple moving average is $62.18.

Equity Lifestyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a dividend of $0.5425 per share. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, March 27th. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 102.49%.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.