Cornercap Investment Counsel Inc. Makes New $956,000 Investment in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Cornercap Investment Counsel Inc. bought a new position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 13,548 shares of the real estate investment trust’s stock, valued at approximately $956,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Equity LifeStyle Properties by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 24,909,450 shares of the real estate investment trust’s stock worth $1,586,981,000 after purchasing an additional 472,855 shares during the period. BlackRock Inc. boosted its stake in shares of Equity LifeStyle Properties by 1.7% during the 1st quarter. BlackRock Inc. now owns 15,004,695 shares of the real estate investment trust’s stock worth $1,007,265,000 after acquiring an additional 251,778 shares in the last quarter. Aristotle Capital Management LLC boosted its stake in shares of 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 acquiring an additional 1,681,198 shares in the last quarter. Chai Trust Co. LLC boosted its stake in shares of 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 acquiring an additional 102,696 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Equity LifeStyle Properties by 13.0% during the 1st quarter. State Street Corp now owns 8,817,442 shares of the real estate investment trust’s stock worth $677,864,000 after acquiring an additional 1,016,542 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Analyst Upgrades and Downgrades

ELS has been the topic of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Truist Financial decreased their price target on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating on the stock in a research note on Wednesday, January 24th. Wolfe Research raised Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $64.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $70.15.

Equity LifeStyle Properties Price Performance

ELS stock opened at $61.36 on Tuesday. Equity LifeStyle Properties, Inc. has a 1 year low of $60.47 and a 1 year high of $74.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The stock’s 50 day moving average price is $65.30 and its 200 day moving average price is $67.21. The firm has a market cap of $11.44 billion, a P/E ratio of 36.52, a PEG ratio of 3.63 and a beta of 0.69.

Equity LifeStyle Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a $0.477 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.91 dividend on an annualized basis and a yield of 3.11%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s dividend payout ratio is presently 113.69%.

Equity LifeStyle Properties Company Profile

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.