California State Teachers Retirement System Increases Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

California State Teachers Retirement System (CalSTRS) has increased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.3% during the fourth quarter, according to its recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm now owns 256,732 shares of the real estate investment trust’s stock, worth $18,110,000.

In addition to CalSTRS, several other hedge funds have also made changes to their positions in ELS. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in ELS in the fourth quarter valued at approximately $35,000. Headlands Technologies LLC grew its stake in ELS by 143.8% in the same quarter, now owning 624 shares valued at $44,000. GAMMA Investing LLC also acquired a new position in ELS in the fourth quarter worth about $44,000. Lindbrook Capital LLC and Anchor Investment Management LLC also increased their holdings in ELS during the same period.

Shares of ELS opened at $63.81 on Friday, with a quick ratio of 0.03, a current ratio of 0.03, and a debt-to-equity ratio of 0.33. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 34.87, and a beta of 0.75. ELS has a 12-month low of $59.82 and a 12-month high of $74.04.

Equity LifeStyle Properties recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will receive a dividend of $0.477 per share. The ex-dividend date of this dividend is also Friday, June 28th. This represents a $1.91 annualized dividend and a dividend yield of 2.99%. ELS’s dividend payout ratio is currently 104.37%.

Analysts have set new price targets for ELS. Wolfe Research upgraded ELS from a “peer perform” rating to an “outperform” rating and set a $75.00 price target for the company. Truist Financial and Barclays both lowered their target prices on ELS, with Truist Financial setting a “hold” rating and Barclays setting an “overweight” rating on the stock. Overall, seven analysts have rated the stock as hold, while two have given it a buy rating. The average rating for ELS is “Hold” with an average price target of $68.85.

Equity LifeStyle Properties is a self-administered, self-managed real estate investment trust with headquarters in Chicago. As of January 29, 2024, the company owns or has an interest in 451 properties in 35 states and British Columbia, consisting of 172,465 sites.

For more information on Equity LifeStyle Properties and to see what other hedge funds are holding ELS, visit HoldingsChannel.com to get the latest 13F filings and insider trades for the company.