CIBC Asset Management Inc Acquires 897 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

CIBC Asset Management Inc raised its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 13.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,488 shares of the real estate investment trust’s stock after buying an additional 897 shares during the quarter. CIBC Asset Management Inc’s holdings in Equity LifeStyle Properties were worth $499,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC boosted its position in Equity LifeStyle Properties by 7.4% during the fourth quarter. Sanctuary Advisors LLC now owns 34,988 shares of the real estate investment trust’s stock valued at $2,280,000 after acquiring an additional 2,410 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Equity LifeStyle Properties by 172.0% in the 4th quarter. Principal Financial Group Inc. now owns 6,070,817 shares of the real estate investment trust’s stock worth $404,319,000 after acquiring an additional 3,838,809 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Equity LifeStyle Properties by 142.6% during the 4th quarter. Principal Securities Inc. now owns 1,999 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 1,175 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Equity LifeStyle Properties by 3.0% during the 4th quarter. Rhumbline Advisers now owns 566,942 shares of the real estate investment trust’s stock worth $37,758,000 after buying an additional 16,521 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Equity LifeStyle Properties by 4.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 402,570 shares of the real estate investment trust’s stock worth $26,811,000 after buying an additional 17,728 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $73.00 in a research note on Tuesday, January 21st. Evercore ISI reduced their price target on shares of Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a research report on Tuesday, January 28th. Jefferies Financial Group raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $72.00 to $80.00 in a report on Thursday, January 2nd. Finally, Robert W. Baird lifted their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Equity LifeStyle Properties presently has an average rating of “Moderate Buy” and a consensus price target of $73.78.

Equity LifeStyle Properties Stock Performance

Shares of NYSE:ELS opened at $65.96 on Friday. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The company has a 50-day moving average price of $66.30 and a 200-day moving average price of $69.25. The company has a current ratio of 0.02, a quick ratio of 0.03 and a debt-to-equity ratio of 0.15. Equity LifeStyle Properties, Inc. has a 12 month low of $59.82 and a 12 month high of $76.60.

Equity LifeStyle Properties (NYSE:ELS) last announced its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. As a group, equities analysts anticipate that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current year.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.06 annualized dividend and a dividend yield of 3.12%. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s payout ratio is currently 97.95%.

About Equity LifeStyle Properties

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.