Healthcare of Ontario Pension Plan Trust Fund Boosts Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Healthcare of Ontario Pension Plan Trust Fund increased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 27.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 56,000 shares of the real estate investment trust’s stock after purchasing an additional 11,985 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Equity LifeStyle Properties were worth $3,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ELS. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Equity LifeStyle Properties by 30.6% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 4,116 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 964 shares during the last quarter. Pathstone Family Office LLC purchased a new stake in shares of Equity LifeStyle Properties in the 3rd quarter valued at about $474,000. PNC Financial Services Group Inc. raised its stake in Equity LifeStyle Properties by 18.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 17,524 shares of the real estate investment trust’s stock valued at $1,116,000 after acquiring an additional 2,678 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Equity LifeStyle Properties by 6.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 115,085 shares of the real estate investment trust’s stock valued at $7,250,000 after acquiring an additional 7,257 shares during the last quarter. Finally, Korea Investment CORP raised its stake in Equity LifeStyle Properties by 557.8% during the 3rd quarter. Korea Investment CORP now owns 231,446 shares of the real estate investment trust’s stock valued at $14,745,000 after acquiring an additional 196,259 shares during the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELS has been the subject of several analyst reports. Truist Financial reduced their price objective on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Barclays reduced their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.85.

Equity LifeStyle Properties Stock Performance

Shares of ELS stock opened at $62.90 on Wednesday. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 3.58 and a beta of 0.75. The stock has a 50 day simple moving average of $62.37 and a 200-day simple moving average of $65.86. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $74.04. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33.

Equity LifeStyle Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.477 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

About Equity LifeStyle Properties

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.