Summit Securities Group LLC acquired a new stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,000 shares of the real estate investment trust’s stock, valued at approximately $229,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Martingale Asset Management L P raised its stake in Equity Lifestyle Properties by 4.8% during the 1st quarter. Martingale Asset Management L P now owns 384,982 shares of the real estate investment trust’s stock valued at $44,005,000 after acquiring an additional 17,594 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Equity Lifestyle Properties during the 1st quarter valued at $58,000. Great West Life Assurance Co. Can raised its stake in Equity Lifestyle Properties by 1.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 74,309 shares of the real estate investment trust’s stock valued at $8,489,000 after acquiring an additional 818 shares in the last quarter. New York State Common Retirement Fund raised its stake in Equity Lifestyle Properties by 16.3% during the 1st quarter. New York State Common Retirement Fund now owns 196,700 shares of the real estate investment trust’s stock valued at $22,483,000 after acquiring an additional 27,600 shares in the last quarter. Finally, Raymond James & Associates bought a new stake in Equity Lifestyle Properties during the 1st quarter valued at $299,000. Hedge funds and other institutional investors own 94.16% of the company’s stock.
Shares of ELS traded up $0.15 during midday trading on Friday, reaching $120.30. The stock had a trading volume of 5,568 shares, compared to its average volume of 389,544. Equity Lifestyle Properties, Inc. has a 52 week low of $87.52 and a 52 week high of $120.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market capitalization of $10.64 billion, a PE ratio of 31.09, a P/E/G ratio of 3.87 and a beta of 0.34.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.6125 dividend. This represents a $2.45 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, June 27th. Equity Lifestyle Properties’s dividend payout ratio is presently 63.31%.
Several analysts have weighed in on the company. Zacks Investment Research raised Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research note on Wednesday, April 3rd. Wells Fargo & Co downgraded Equity Lifestyle Properties from an “outperform” rating to a “market perform” rating and set a $112.00 target price on the stock. in a research note on Tuesday, March 26th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $120.00 target price on shares of Equity Lifestyle Properties in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $110.42.
TRADEMARK VIOLATION NOTICE: “Summit Securities Group LLC Acquires New Position in Equity Lifestyle Properties, Inc. (ELS)” was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://www.themarketsdaily.com/2019/05/24/summit-securities-group-llc-acquires-new-position-in-equity-lifestyle-properties-inc-els.html.
About Equity Lifestyle Properties
We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.
Featured Article: Balance Sheet
Want to see what other hedge funds are holding ELS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equity Lifestyle Properties, Inc. (NYSE:ELS).
Receive News & Ratings for Equity Lifestyle Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equity Lifestyle Properties and related companies with MarketBeat.com's FREE daily email newsletter.