Caprock Group LLC Takes $40.20 Million Position in Equity Lifestyle Properties, Inc. $ELS

Caprock Group LLC acquired a new stake in Equity Lifestyle Properties, Inc. (NYSE:ELS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 666,743 shares of the real estate investment trust’s stock, valued at approximately $40,198,000. Equity Lifestyle Properties accounts for about 1.0% of Caprock Group LLC’s holdings, making the stock its 18th biggest holding. Caprock Group LLC owned 0.34% of Equity Lifestyle Properties as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ELS. Bessemer Group Inc. raised its stake in shares of Equity Lifestyle Properties by 126.9% during the third quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 321 shares during the last quarter. Allworth Financial LP raised its position in Equity Lifestyle Properties by 204.1% during the 2nd quarter. Allworth Financial LP now owns 660 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 443 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Equity Lifestyle Properties by 81.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 840 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 378 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Equity Lifestyle Properties by 874.7% in the second quarter. IFP Advisors Inc now owns 848 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 761 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its stake in shares of Equity Lifestyle Properties by 27.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,250 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 269 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELS has been the topic of several analyst reports. Bank of America upgraded Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. Robert W. Baird set a $73.00 price target on shares of Equity Lifestyle Properties in a research report on Friday, January 30th. UBS Group set a $67.00 price target on Equity Lifestyle Properties and gave the stock a “buy” rating in a report on Thursday, January 8th. Finally, Evercore dropped their price objective on Equity Lifestyle Properties from $67.00 to $65.00 and set an “inline” rating on the stock in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.19.

Equity Lifestyle Properties Trading Up 0.7%

ELS opened at $66.10 on Wednesday. The company has a fifty day moving average price of $62.17 and a two-hundred day moving average price of $61.53. Equity Lifestyle Properties, Inc. has a 1-year low of $58.15 and a 1-year high of $70.35. The company has a market cap of $12.81 billion, a P/E ratio of 32.88, a price-to-earnings-growth ratio of 3.65 and a beta of 0.76. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.30.

Equity Lifestyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.5425 dividend. The ex-dividend date is Friday, March 27th. This is an increase from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 annualized dividend and a yield of 3.3%. Equity Lifestyle Properties’s dividend payout ratio is currently 102.49%.

Equity Lifestyle Properties Company 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.