Quadrant Capital Group LLC Increases Stake in Equity LifeStyle Properties, Inc.
Quadrant Capital Group LLC has significantly increased its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 39.3% during the 4th quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The fund now owns 3,075 shares of the real estate investment trust’s stock, up from 2,208 shares previously. This move indicates a strong vote of confidence in the company’s future prospects.
Other hedge funds have also made adjustments to their holdings in ELS. Tiemann Investment Advisors LLC raised its holdings by 1.4% in the third quarter, while Donoghue Forlines LLC and Teacher Retirement System of Texas increased their positions in the 4th quarter. Lindbrook Capital LLC saw a significant 40.5% increase in its stake during the same period. Overall, hedge funds and institutional investors now own 97.21% of Equity LifeStyle Properties’ stock.
Wall Street analysts have been closely monitoring ELS and have provided their insights on the company’s performance. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating, setting a price target of $75.00. Deutsche Bank Aktiengesellschaft initiated coverage on ELS with a “hold” rating and a $64.00 target price. Truist Financial and Barclays both lowered their price targets on the stock, while Royal Bank of Canada maintained a “sector perform” rating with a $70.00 target price. Overall, seven analysts have rated the stock as a hold, while two have issued a buy rating.
Shares of Equity LifeStyle Properties opened at $64.68 on Monday, with a market cap of $12.06 billion. The stock has a P/E ratio of 35.34, a PEG ratio of 3.81, and a beta of 0.70. The company’s fifty-day simple moving average is $63.22, and its 200-day simple moving average is $66.78. ELS has a 12-month low of $59.82 and a high of $74.04. The company also announced a quarterly dividend of $0.477 per share, with a yield of 2.95%.
Equity LifeStyle Properties is a self-administered, self-managed real estate investment trust based in Chicago. As of January 29, 2024, the company owns or has an interest in 451 properties in 35 states and British Columbia, totaling 172,465 sites.
For more information on Equity LifeStyle Properties and to stay updated on the latest news and analyst ratings, investors can visit HoldingsChannel.com for the most recent 13F filings and insider trades. Additionally, MarketBeat.com offers a daily email newsletter with a concise summary of news and ratings for ELS and related companies.
In conclusion, Quadrant Capital Group LLC’s increased stake in Equity LifeStyle Properties, along with positive analyst ratings and the company’s strong financial performance, indicate a promising outlook for ELS in the real estate investment sector. Investors should continue to monitor developments in the company and the broader market to make informed investment decisions.