Waratah Capital Advisors Ltd. Acquires 203,545 Shares of Equity Lifestyle Properties, Inc. $ELS

Waratah Capital Advisors Ltd. lifted its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 73.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 480,572 shares of the real estate investment trust’s stock after acquiring an additional 203,545 shares during the period. Equity Lifestyle Properties makes up 0.5% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 17th biggest holding. Waratah Capital Advisors Ltd. owned 0.25% of Equity Lifestyle Properties worth $29,171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Equity Lifestyle Properties in the 3rd quarter valued at $1,243,000. Achmea Investment Management B.V. bought a new stake in shares of Equity Lifestyle Properties during the 2nd quarter worth $1,039,000. Andra AP fonden increased its holdings in Equity Lifestyle Properties by 34.9% during the second quarter. Andra AP fonden now owns 352,400 shares of the real estate investment trust’s stock worth $21,733,000 after buying an additional 91,100 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of Equity Lifestyle Properties by 910.4% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 100,390 shares of the real estate investment trust’s stock worth $6,091,000 after purchasing an additional 90,454 shares during the last quarter. Finally, Creative Planning grew its holdings in Equity Lifestyle Properties by 191.3% during the second quarter. Creative Planning now owns 30,420 shares of the real estate investment trust’s stock valued at $1,876,000 after purchasing an additional 19,977 shares during the period. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ELS has been the topic of several research reports. Zacks Research upgraded Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a research note on Monday. Royal Bank Of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. Truist Financial boosted their price target on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the company a “hold” rating in a research report on Wednesday, February 18th. Wells Fargo & Company cut their price objective on shares of Equity Lifestyle Properties from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Bank of America raised Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Equity Lifestyle Properties currently has a consensus rating of “Moderate Buy” and an average target price of $70.27.

Equity Lifestyle Properties Price Performance

ELS opened at $68.29 on Wednesday. The stock has a 50-day moving average price of $63.36 and a 200-day moving average price of $62.03. The stock has a market capitalization of $13.24 billion, a P/E ratio of 33.97, a PEG ratio of 3.77 and a beta of 0.76. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $70.35. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.30.

Equity Lifestyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be paid a $0.5425 dividend. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 annualized dividend and a dividend yield of 3.2%. Equity Lifestyle Properties’s payout ratio is presently 102.49%.

About Equity Lifestyle Properties

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.