Swiss Life Asset Management Ltd Acquires 39,580 Shares of Equity Lifestyle Properties, Inc. $ELS

Swiss Life Asset Management Ltd grew its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 232.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 56,617 shares of the real estate investment trust’s stock after purchasing an additional 39,580 shares during the period. Swiss Life Asset Management Ltd’s holdings in Equity Lifestyle Properties were worth $3,437,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ELS. Massachusetts Financial Services Co. MA grew its stake in shares of Equity Lifestyle Properties by 114.5% in the 3rd 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 during the last quarter. Norges Bank bought a new position in Equity Lifestyle Properties during the 2nd quarter valued at approximately $164,862,000. Daiwa Securities Group Inc. raised its stake in Equity Lifestyle Properties by 253.7% during the third quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after buying an additional 2,257,299 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in Equity Lifestyle Properties by 2,448.8% in the third quarter. Centersquare Investment Management LLC now owns 1,963,378 shares of the real estate investment trust’s stock worth $119,177,000 after acquiring an additional 1,886,348 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Equity Lifestyle Properties by 32.5% in the third quarter. Victory Capital Management Inc. now owns 6,823,626 shares of the real estate investment trust’s stock worth $414,194,000 after acquiring an additional 1,674,281 shares in the last quarter. 97.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ELS. Wall Street Zen downgraded Equity Lifestyle Properties from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Zacks Research upgraded shares of Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Bank of America raised shares of Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Tuesday, February 3rd. Royal Bank Of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Equity Lifestyle Properties in a research note on Friday, January 30th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $70.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $69.63.

Insider Activity

In related news, Director David J. Contis sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total value of $201,660.00. Following the transaction, the director owned 14,890 shares of the company’s stock, valued at approximately $1,000,905.80. This trade represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Equity Lifestyle Properties Stock Down 1.6%

ELS stock opened at $64.21 on Monday. The company has a market cap of $12.45 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 3.57 and a beta of 0.75. 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 business’s 50-day moving average is $65.66 and its two-hundred day moving average is $62.94. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $69.15.

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 3.4%. 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.