Equity LifeStyle Properties, Inc. (NYSE:ELS) Stake Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELSFree Report) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,981 shares of the real estate investment trust’s stock after buying an additional 1,457 shares during the period. PNC Financial Services Group Inc.’s holdings in Equity LifeStyle Properties were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Equity LifeStyle Properties by 1.9% in the third quarter. Vanguard Group Inc. now owns 24,909,450 shares of the real estate investment trust’s stock valued at $1,586,981,000 after buying an additional 472,855 shares in the last quarter. Aristotle Capital Management LLC grew its position in Equity LifeStyle Properties by 17.1% during the 3rd quarter. Aristotle Capital Management LLC now owns 11,536,605 shares of the real estate investment trust’s stock worth $734,997,000 after purchasing an additional 1,681,198 shares in the last quarter. Chai Trust Co. LLC grew its position in Equity LifeStyle Properties by 1.1% during the 3rd quarter. Chai Trust Co. LLC now owns 9,055,685 shares of the real estate investment trust’s stock worth $576,938,000 after purchasing an additional 102,696 shares in the last quarter. Norges Bank purchased a new position in Equity LifeStyle Properties during the 4th quarter worth approximately $455,623,000. Finally, Massachusetts Financial Services Co. MA grew its position in Equity LifeStyle Properties by 17.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock worth $193,533,000 after purchasing an additional 410,042 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock opened at $61.23 on Wednesday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 33.46, a P/E/G ratio of 3.55 and a beta of 0.70. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $74.04. The firm’s 50-day moving average price is $62.79 and its two-hundred day moving average price is $66.62.

Equity LifeStyle Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.477 per share. The ex-dividend date is Friday, June 28th. This represents a $1.91 annualized dividend and a yield of 3.12%. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price target on the stock. Barclays decreased their price objective on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Truist Financial decreased their price objective on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Finally, Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $68.85.

Read Our Latest Analysis on Equity LifeStyle Properties

About Equity LifeStyle Properties

(Free Report)

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.

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Institutional Ownership by Quarter for Equity LifeStyle Properties (NYSE:ELS)

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