Intech Investment Management LLC Grows Stake in Equity Lifestyle Properties, Inc. $ELS

Intech Investment Management LLC lifted its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 116.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,410 shares of the real estate investment trust’s stock after purchasing an additional 38,973 shares during the quarter. Intech Investment Management LLC’s holdings in Equity Lifestyle Properties were worth $4,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in Equity Lifestyle Properties by 1.8% during the 2nd quarter. State Street Corp now owns 13,268,436 shares of the real estate investment trust’s stock valued at $824,943,000 after purchasing an additional 237,090 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Equity Lifestyle Properties by 114.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,375,154 shares of the real estate investment trust’s stock worth $326,272,000 after buying an additional 2,868,678 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Equity Lifestyle Properties by 12.2% during the second quarter. JPMorgan Chase & Co. now owns 4,724,515 shares of the real estate investment trust’s stock valued at $291,363,000 after buying an additional 515,063 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Equity Lifestyle Properties by 0.5% during the second quarter. Geode Capital Management LLC now owns 4,071,627 shares of the real estate investment trust’s stock valued at $250,491,000 after acquiring an additional 20,600 shares in the last quarter. Finally, Norges Bank purchased a new position in Equity Lifestyle Properties in the 2nd quarter worth approximately $164,862,000. Institutional investors own 97.21% of the company’s stock.

Wall Street Analyst Weigh In

ELS has been the topic of several recent analyst reports. Bank of America upgraded Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Tuesday, February 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $70.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Equity Lifestyle Properties in a report on Thursday, January 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. Finally, Barclays reaffirmed an “overweight” rating and set a $71.00 price target (up from $68.00) on shares of Equity Lifestyle Properties in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.42.

Equity Lifestyle Properties Stock Down 0.8%

Equity Lifestyle Properties stock 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 stock has a fifty day moving average of $63.71 and a 200 day moving average of $62.18. 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 stock has a market cap of $13.04 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 3.73 and a beta of 0.75.

Equity Lifestyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a $0.5425 dividend. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, March 27th. This represents a $2.17 annualized dividend and a dividend yield of 3.2%. Equity Lifestyle Properties’s dividend payout ratio (DPR) is currently 102.49%.

Equity Lifestyle Properties 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.