DigitalBridge Group Inc. Takes $747,000 Position in Equity Lifestyle Properties, Inc. $ELS

DigitalBridge Group Inc. bought a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,300 shares of the real estate investment trust’s stock, valued at approximately $747,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP acquired a new position in Equity Lifestyle Properties during the third quarter worth $34,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Equity Lifestyle Properties by 66.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 35,940 shares of the real estate investment trust’s stock worth $2,182,000 after purchasing an additional 14,347 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Equity Lifestyle Properties by 5.6% during the third quarter. CANADA LIFE ASSURANCE Co now owns 427,544 shares of the real estate investment trust’s stock worth $25,436,000 after purchasing an additional 22,859 shares in the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Equity Lifestyle Properties during the 3rd quarter worth about $25,000. Finally, XTX Topco Ltd raised its position in shares of Equity Lifestyle Properties by 65.4% during the 3rd quarter. XTX Topco Ltd now owns 17,884 shares of the real estate investment trust’s stock worth $1,086,000 after purchasing an additional 7,071 shares during 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. Truist Financial lifted their price objective on Equity Lifestyle Properties from $66.00 to $69.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. Wells Fargo & Company reissued an “equal weight” rating and set a $70.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft lowered Equity Lifestyle Properties from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Tuesday, January 20th. 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 report on Tuesday, February 3rd. Finally, UBS Group set a $67.00 price target on Equity Lifestyle Properties and gave the stock a “buy” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $69.63.

Equity Lifestyle Properties Stock Up 0.5%

Shares of NYSE ELS opened at $67.80 on Wednesday. The stock has a market cap of $13.15 billion, a PE ratio of 33.73, a P/E/G ratio of 3.75 and a beta of 0.75. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.30. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $69.28. The company has a 50-day moving average of $65.38 and a 200 day moving average of $62.83.

Equity Lifestyle Properties Increases Dividend

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