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Bank of Montreal Can Increases Position in Equity LifeStyle Properties
Bank of Montreal Can has raised its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.3% in the fourth quarter, according to its recent Form 13F filing with the Securities & Exchange Commission. The company now owns 525,735 shares of the real estate investment trust’s stock worth $34,394,000 after acquiring an additional 16,592 shares during the period.
Hedge Funds Also Buy Shares of ELS
Other hedge funds have also bought and sold shares of Equity LifeStyle Properties. Private Trust Co. NA and Wipfli Financial Advisors LLC bought new positions in the company. Eagle Bay Advisors LLC, Exos TFP Holdings LLC, and Ronald Blue Trust Inc. also increased their positions in Equity LifeStyle Properties. Institutional investors own 90.65% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on ELS. Wells Fargo & Company began coverage on shares of Equity LifeStyle Properties with an “overweight” rating and a $75.50 price objective on the stock. Barclays boosted their target price on shares of Equity LifeStyle Properties from $75.00 to $79.00 and gave the company an “overweight” rating. Other analysts have rated the stock as “outperform,” “neutral,” or a “buy.” Equity LifeStyle Properties currently has a consensus rating of “Hold” and a consensus price target of $76.06.
Equity LifeStyle Properties Stock Up 2.1 %
NYSE:ELS traded up $1.41 during mid-day trading on Friday, reaching $67.13. The company’s stock had a trading volume of 1,071,520 shares, compared to its average volume of 888,319. Equity LifeStyle Properties, Inc. has a 1 year low of $56.91 and a 1 year high of $83.80. The firm has a market capitalization of $12.50 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 4.92 and a beta of 0.66. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.46.
Equity LifeStyle Properties Increases Dividend
Equity LifeStyle Properties also announced a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be paid a $0.447 dividend. The ex-dividend date is Thursday, March 30th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.41. This represents a $1.79 dividend on an annualized basis and a yield of 2.66%. Equity LifeStyle Properties’s dividend payout ratio is 116.99%.
Equity LifeStyle Properties Company Profile
Equity LifeStyle Properties, Inc is a real estate investment trust that engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.
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