Centiva Capital LP Purchases 21,113 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Centiva Capital LP increased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 138.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,338 shares of the real estate investment trust’s stock after acquiring an additional 21,113 shares during the period. Centiva Capital LP’s holdings in Equity LifeStyle Properties were worth $2,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of Equity LifeStyle Properties by 172.0% during the fourth quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust’s stock valued at $404,319,000 after purchasing an additional 3,838,809 shares in the last quarter. Invesco Ltd. raised its position in Equity LifeStyle Properties by 592.7% in the 4th quarter. Invesco Ltd. now owns 3,918,241 shares of the real estate investment trust’s stock worth $260,955,000 after buying an additional 3,352,584 shares during the last quarter. Norges Bank bought a new position in Equity LifeStyle Properties during the 4th quarter valued at about $163,212,000. Northern Trust Corp boosted its holdings in shares of Equity LifeStyle Properties by 43.3% during the 4th quarter. Northern Trust Corp now owns 2,434,858 shares of the real estate investment trust’s stock valued at $162,162,000 after acquiring an additional 735,580 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Equity LifeStyle Properties in the fourth quarter worth approximately $41,391,000. 97.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELS. Evercore ISI dropped their target price on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating on the stock in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $73.00 in a report on Tuesday, January 21st. BMO Capital Markets lowered their target price on Equity LifeStyle Properties from $78.00 to $77.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Truist Financial cut their price target on Equity LifeStyle Properties from $72.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Robert W. Baird increased their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.33.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS opened at $63.77 on Wednesday. The firm’s 50 day simple moving average is $65.91 and its two-hundred day simple moving average is $67.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.02 and a quick ratio of 0.03. The company has a market capitalization of $12.19 billion, a P/E ratio of 32.70, a P/E/G ratio of 3.02 and a beta of 0.76. Equity LifeStyle Properties, Inc. has a 1-year low of $58.86 and a 1-year high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share for the quarter, hitting the consensus estimate of $0.83. The company had revenue of $327.21 million during the quarter, compared to the consensus estimate of $391.34 million. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. During the same quarter in the prior year, the firm posted $0.59 EPS. Research analysts expect that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Friday, June 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 106.74%.

Equity LifeStyle Properties Company 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.