Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lowered its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,893 shares of the real estate investment trust’s stock after selling 956 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Equity LifeStyle Properties were worth $3,661,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Equity LifeStyle Properties in the fourth quarter valued at about $35,000. Lindbrook Capital LLC lifted its position in shares of Equity LifeStyle Properties by 40.5% during the 4th quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 182 shares during the period. Anchor Investment Management LLC purchased a new stake in shares of Equity LifeStyle Properties during the 4th quarter worth approximately $47,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Equity LifeStyle Properties during the 3rd quarter worth approximately $64,000. Finally, Second Half Financial Partners LLC acquired a new stake in shares of Equity LifeStyle Properties in the 3rd quarter worth approximately $66,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Down 0.0 %

Shares of NYSE ELS opened at $62.70 on Tuesday. The firm’s 50 day moving average price is $64.83 and its 200 day moving average price is $67.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market cap of $11.69 billion, a P/E ratio of 37.32, a price-to-earnings-growth ratio of 3.73 and a beta of 0.69. Equity LifeStyle Properties, Inc. has a 1 year low of $60.47 and a 1 year high of $74.04.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.477 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 annualized dividend and a yield of 3.04%. Equity LifeStyle Properties’s dividend payout ratio is 113.69%.

Analysts Set New Price Targets

A number of analysts have commented on ELS shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 target price on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 target price for the company. Finally, Truist Financial cut their target price on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.15.

About Equity LifeStyle Properties

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.