Argosy Lionbridge Management LLC Acquires New Position in Equity Lifestyle Properties, Inc. (ELS)

Argosy Lionbridge Management LLC acquired a new position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 61,000 shares of the real estate investment trust, valued at approximately $3,703,000. Equity Lifestyle Properties represents about 2.4% of Argosy Lionbridge Management LLC's investment portfolio, making it the fund's 11th largest holding.

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Several other hedge funds have also adjusted their holdings in Equity Lifestyle Properties. Empowered Funds LLC increased its stake by 14.1% in the first quarter, now owning 6,516 shares valued at $435,000 after acquiring an additional 804 shares. Jane Street Group LLC raised its position by 598.5% in the first quarter, holding 119,397 shares worth $7,964,000 following an addition of 102,303 shares. Intech Investment Management LLC boosted its stake by 62.3% in the first quarter, now owning 23,114 shares valued at $1,542,000 after purchasing 8,873 more shares. Savant Capital LLC initiated a new position in the second quarter valued at approximately $340,000. Additionally, Allworth Financial LP increased its holdings by 204.1% in the second quarter, owning 660 shares worth $41,000 after acquiring 443 shares. Institutional investors and hedge funds collectively own 97.21% of the company's stock.

Wall Street Analyst Opinions

Several analysts have recently commented on Equity Lifestyle Properties. Wall Street Zen downgraded the stock from a "hold" to a "sell" rating on February 28. Wells Fargo & Company reaffirmed an "equal weight" rating and raised the target price to $70.00 from $68.00 on February 27. Zacks Research upgraded the stock from a "strong sell" to a "hold" rating on February 23. Royal Bank of Canada reiterated an "outperform" rating with a $70.00 price target on January 30. Weiss Ratings maintained a "hold (c)" rating on January 22. Overall, one analyst has rated the stock as a Strong Buy, six as Buy, and seven as Hold. According to MarketBeat data, the consensus rating is "Moderate Buy" with an average target price of $70.42.

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View Our Latest Research Report on Equity Lifestyle Properties

Equity Lifestyle Properties Price Performance

Shares of ELS opened at $67.83 on Friday. The stock's 50-day moving average is $65.06, and its 200-day moving average is $62.70. The company has a market capitalization of $13.16 billion, a price-to-earnings (P/E) ratio of 33.75, a price-to-earnings-to-growth (PEG) ratio of 3.77, and a beta of 0.75. Equity Lifestyle Properties has a 52-week low of $58.15 and a 52-week high of $69.28. The company’s debt-to-equity ratio stands at 0.30, with a quick ratio and current ratio both at 0.04.

Equity Lifestyle Properties Increases Dividend

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The company recently announced a quarterly dividend payable on Friday, April 10. Shareholders of record on Friday, March 27, will receive a dividend of $0.5425 per share. This equates to an annualized dividend of $2.17 and a yield of 3.2%, representing an increase from the previous quarterly dividend of $0.52. The ex-dividend date is March 27. Equity Lifestyle Properties’ dividend payout ratio is 102.49%.

Equity Lifestyle Properties Company Profile

(Free Report)

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 over 450 properties across the United States and Canada, serving more than 200,000 residents and visitors. ELS operates through two main 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 along with community amenities such as landscaped common areas, clubhouses, swimming pools, and organized resident events.

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