BNP Paribas Arbitrage SNC Grows Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

BNP Paribas Arbitrage SNC increased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS – Get Rating) by 25.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 259,583 shares of the real estate investment trust’s stock after acquiring an additional 53,303 shares during the period. BNP Paribas Arbitrage SNC owned approximately 0.14% of Equity LifeStyle Properties worth $16,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ELS. JPMorgan Chase & Co. raised its holdings in Equity LifeStyle Properties by 55.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,135,313 shares of the real estate investment trust’s stock valued at $361,885,000 after buying an additional 1,823,555 shares during the period. Canada Pension Plan Investment Board increased its stake in Equity LifeStyle Properties by 519.1% during the third quarter. Canada Pension Plan Investment Board now owns 2,164,844 shares of the real estate investment trust’s stock worth $136,039,000 after purchasing an additional 1,815,194 shares during the period. Invesco Ltd. increased its stake in Equity LifeStyle Properties by 147.1% during the first quarter. Invesco Ltd. now owns 2,541,777 shares of the real estate investment trust’s stock worth $194,396,000 after purchasing an additional 1,512,944 shares during the period. State Street Corp increased its stake in Equity LifeStyle Properties by 13.0% during the first quarter. State Street Corp now owns 8,817,442 shares of the real estate investment trust’s stock worth $677,864,000 after purchasing an additional 1,016,542 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Equity LifeStyle Properties by 21.4% during the third quarter. Victory Capital Management Inc. now owns 5,446,021 shares of the real estate investment trust’s stock worth $342,227,000 after purchasing an additional 960,088 shares during the period. Hedge funds and other institutional investors own 90.65% of the company’s stock.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $66.07 on Wednesday. The stock has a 50 day moving average price of $68.83 and a 200 day moving average price of $66.35. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 43.18, a price-to-earnings-growth ratio of 5.42 and a beta of 0.66. Equity LifeStyle Properties, Inc. has a 52-week low of $56.91 and a 52-week high of $83.80.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be paid a $0.447 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.79 dividend on an annualized basis and a yield of 2.71%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.41. Equity LifeStyle Properties’s payout ratio is currently 107.19%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ELS shares. Citigroup boosted their price target on shares of Equity LifeStyle Properties from $62.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Truist Financial boosted their price objective on Equity LifeStyle Properties from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, January 17th. Robert W. Baird boosted their price objective on Equity LifeStyle Properties from $68.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 1st. Barclays boosted their price objective on Equity LifeStyle Properties from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Finally, StockNews.com raised Equity LifeStyle Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, January 31st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Equity LifeStyle Properties has a consensus rating of “Hold” and an average price target of $76.13.

Equity LifeStyle Properties Company Profile

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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.