AlphaQuest LLC Reduces Stake in Equity Lifestyle Properties, Inc. $ELS

AlphaQuest LLC reduced its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 62.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,943 shares of the real estate investment trust’s stock after selling 11,477 shares during the quarter. AlphaQuest LLC’s holdings in Equity Lifestyle Properties were worth $421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Equity Lifestyle Properties by 1.8% in the 2nd quarter. State Street Corp now owns 13,268,436 shares of the real estate investment trust’s stock worth $824,943,000 after purchasing an additional 237,090 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Equity Lifestyle Properties by 114.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,375,154 shares of the real estate investment trust’s stock worth $326,272,000 after buying an additional 2,868,678 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Equity Lifestyle Properties by 12.2% during the second quarter. JPMorgan Chase & Co. now owns 4,724,515 shares of the real estate investment trust’s stock worth $291,363,000 after buying an additional 515,063 shares during the period. Geode Capital Management LLC boosted its stake in Equity Lifestyle Properties by 0.5% during the second quarter. Geode Capital Management LLC now owns 4,071,627 shares of the real estate investment trust’s stock worth $250,491,000 after buying an additional 20,600 shares during the period. Finally, Norges Bank bought a new position in Equity Lifestyle Properties during the second quarter valued at $164,862,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ELS. Weiss Ratings restated a “hold (c)” rating on shares of Equity Lifestyle Properties in a report on Thursday, January 22nd. Robert W. Baird set a $73.00 price objective on shares of Equity Lifestyle Properties in a research note on Friday, January 30th. Royal Bank Of Canada restated an “outperform” rating and set a $70.00 target price on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. Evercore reduced their price target on Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating on the stock in a report on Thursday, October 23rd. Finally, UBS Group set a $67.00 price target on Equity Lifestyle Properties and gave the stock a “buy” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.19.

Equity Lifestyle Properties Stock Performance

Equity Lifestyle Properties stock opened at $65.63 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.05 and a current ratio of 0.04. The company has a market capitalization of $12.72 billion, a PE ratio of 32.65, a P/E/G ratio of 3.69 and a beta of 0.76. The company has a 50 day moving average price of $62.04 and a 200-day moving average price of $61.44. Equity Lifestyle Properties, Inc. has a fifty-two week low of $58.15 and a fifty-two week high of $70.35.

Equity Lifestyle Properties Increases Dividend

The company 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 dividend of $0.5425 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. Equity Lifestyle Properties’s dividend payout ratio is currently 102.49%.

Equity Lifestyle Properties Profile

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.