Swiss National Bank Sells 15,600 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Swiss National Bank cut its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 553,400 shares of the real estate investment trust’s stock after selling 15,600 shares during the period. Swiss National Bank’s holdings in Equity LifeStyle Properties were worth $39,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ELS. FFT Wealth Management LLC bought a new stake in Equity LifeStyle Properties in the 4th quarter worth approximately $229,000. New York Life Investment Management LLC grew its holdings in shares of Equity LifeStyle Properties by 108.1% in the fourth quarter. New York Life Investment Management LLC now owns 48,556 shares of the real estate investment trust’s stock worth $3,425,000 after acquiring an additional 25,220 shares during the period. Buckhead Capital Management LLC grew its holdings in shares of Equity LifeStyle Properties by 5.3% in the fourth quarter. Buckhead Capital Management LLC now owns 57,082 shares of the real estate investment trust’s stock worth $4,027,000 after acquiring an additional 2,894 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in Equity LifeStyle Properties during the fourth quarter valued at $310,000. Finally, Van ECK Associates Corp lifted its holdings in Equity LifeStyle Properties by 14.7% in the fourth quarter. Van ECK Associates Corp now owns 71,752 shares of the real estate investment trust’s stock valued at $5,061,000 after acquiring an additional 9,169 shares during the period. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Trading Down 0.1 %

Shares of NYSE ELS opened at $63.03 on Wednesday. The stock has a market capitalization of $11.76 billion, a P/E ratio of 34.44, a PEG ratio of 3.73 and a beta of 0.70. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $74.04. The business’s 50 day moving average is $63.78 and its two-hundred day moving average is $66.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a dividend of $0.477 per share. The ex-dividend date is Friday, June 28th. This represents a $1.91 annualized dividend and a yield of 3.03%. Equity LifeStyle Properties’s payout ratio is presently 104.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ELS shares. Truist Financial reduced their price target on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft started coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $64.00 target price on the stock. Barclays lowered their target price on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Finally, Wolfe Research raised shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Equity LifeStyle Properties presently has a consensus rating of “Hold” and a consensus target price of $68.85.

Equity LifeStyle Properties Profile

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.