Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Holdings in Equity Lifestyle Properties, Inc. $ELS

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 303,002 shares of the real estate investment trust’s stock after purchasing an additional 9,491 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Equity Lifestyle Properties were worth $18,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Equity Lifestyle Properties in the 3rd quarter valued at about $1,243,000. Andra AP fonden lifted its position in Equity Lifestyle Properties by 34.9% during the second quarter. Andra AP fonden now owns 352,400 shares of the real estate investment trust’s stock valued at $21,733,000 after acquiring an additional 91,100 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in Equity Lifestyle Properties in the second quarter valued at approximately $1,039,000. AEGON ASSET MANAGEMENT UK Plc grew its holdings in Equity Lifestyle Properties by 910.4% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 100,390 shares of the real estate investment trust’s stock worth $6,091,000 after purchasing an additional 90,454 shares during the last quarter. Finally, Creative Planning grew its holdings in Equity Lifestyle Properties by 191.3% in the second quarter. Creative Planning now owns 30,420 shares of the real estate investment trust’s stock worth $1,876,000 after purchasing an additional 19,977 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ELS. Barclays reiterated an “overweight” rating and set a $71.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a report on Thursday, February 5th. Bank of America upgraded Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Tuesday, February 3rd. Robert W. Baird set a $73.00 price target on Equity Lifestyle Properties in a research note on Friday, January 30th. Truist Financial upped their price objective on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $70.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.42.

Equity Lifestyle Properties Trading Down 0.8%

Shares of NYSE:ELS opened at $67.25 on Monday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. Equity Lifestyle Properties, Inc. has a 52-week low of $58.15 and a 52-week high of $70.35. The stock has a market cap of $13.04 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 3.73 and a beta of 0.75. The business has a 50-day moving average price of $63.71 and a 200-day moving average price of $62.18.

Equity Lifestyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be given a dividend of $0.5425 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.17 dividend on an annualized basis and a yield of 3.2%. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s payout ratio is 102.49%.

About Equity Lifestyle Properties

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.