Charles Schwab Investment Management Inc. Acquires 61,126 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Charles Schwab Investment Management Inc. has increased its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.7% during the 4th quarter, according to the company’s recent 13F filing with the SEC. The fund now owns 2,293,701 shares of the real estate investment trust’s stock, valued at $161,798,000. This move indicates a growing confidence in the company’s potential for growth and profitability.

In addition to Charles Schwab Investment Management Inc., other hedge funds have also made adjustments to their holdings in Equity LifeStyle Properties. Vanguard Group Inc. raised its holdings by 1.9% during the third quarter, Aristotle Capital Management LLC increased its stake by 17.1%, and Chai Trust Co. LLC raised its stake by 1.1%. Victory Capital Management Inc. and Massachusetts Financial Services Co. MA also saw increases in their positions in the company. Overall, hedge funds and other institutional investors now own 97.21% of Equity LifeStyle Properties’ stock.

Wall Street analysts have been closely monitoring Equity LifeStyle Properties, with several providing their insights on the company’s performance. Barclays lowered their price target on the stock but maintained an “overweight” rating, while Truist Financial decreased their price target to $65.00 and rated the stock as a “hold.” Wolfe Research upgraded Equity LifeStyle Properties to “outperform” and set a price target of $75.00. Royal Bank of Canada and Deutsche Bank Aktiengesellschaft also shared their ratings on the stock, with a consensus rating of “Hold” and an average target price of $68.85.

Despite the positive outlook from analysts, Equity LifeStyle Properties’ stock experienced a slight decline of 0.4% during trading on Friday, reaching $62.79. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 34.43, and a beta of 0.70. The firm’s fifty-day moving average is $63.63, with a 200-day moving average of $66.85. Equity LifeStyle Properties has a dividend payout ratio of 104.37% and recently announced a quarterly dividend to be paid on July 12th.

Equity LifeStyle Properties, Inc. is a self-administered, self-managed real estate investment trust based in Chicago. The company owns or has an interest in 451 properties in 35 states and British Columbia, totaling 172,465 sites. With a focus on providing high-quality living spaces, Equity LifeStyle Properties continues to attract the attention of investors and analysts alike.

As investors navigate the ever-changing landscape of the real estate market, Equity LifeStyle Properties remains a key player to watch. With the support of institutional investors and the insights of Wall Street analysts, the company is poised for continued growth and success in the coming months.