Waratah Capital Advisors Ltd. Acquires 203,545 Shares of Equity Lifestyle Properties, Inc. $ELS

Waratah Capital Advisors Ltd. grew its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 73.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 480,572 shares of the real estate investment trust’s stock after buying an additional 203,545 shares during the quarter. Equity Lifestyle Properties makes up about 0.5% of Waratah Capital Advisors Ltd.’s investment portfolio, making the stock its 17th largest holding. Waratah Capital Advisors Ltd.’s holdings in Equity Lifestyle Properties were worth $29,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELS. Empowered Funds LLC raised its holdings in Equity Lifestyle Properties by 14.1% in the 1st quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust’s stock worth $435,000 after purchasing an additional 804 shares in the last quarter. Jane Street Group LLC increased its position in shares of Equity Lifestyle Properties by 598.5% during the first quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust’s stock valued at $7,964,000 after buying an additional 102,303 shares during the period. Intech Investment Management LLC raised its stake in Equity Lifestyle Properties by 62.3% in the first quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust’s stock worth $1,542,000 after buying an additional 8,873 shares in the last quarter. Ethic Inc. lifted its holdings in Equity Lifestyle Properties by 94.9% in the second quarter. Ethic Inc. now owns 12,747 shares of the real estate investment trust’s stock worth $783,000 after buying an additional 6,208 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Equity Lifestyle Properties by 3.5% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 583,400 shares of the real estate investment trust’s stock valued at $35,978,000 after acquiring an additional 19,719 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties Trading Up 0.5%

NYSE:ELS opened at $68.29 on Wednesday. The stock has a market cap of $13.24 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 3.77 and a beta of 0.76. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average price is $63.36 and its 200-day moving average price is $62.03. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $70.35.

Equity Lifestyle Properties Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ELS shares. Wells Fargo & Company lowered their target price on Equity Lifestyle Properties from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Bank of America raised Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Tuesday, February 3rd. Truist Financial upped their target price on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the stock a “hold” rating in a research report on Wednesday, February 18th. Robert W. Baird set a $73.00 price target on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $70.00 target price on shares of Equity Lifestyle Properties in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Equity Lifestyle Properties has an average rating of “Moderate Buy” and an average target price of $70.27.

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.