Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in Equity LifeStyle Properties, Inc. (NYSE:ELSFree Report) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 569,000 shares of the real estate investment trust’s stock after selling 69,700 shares during the quarter. Swiss National Bank owned approximately 0.31% of Equity LifeStyle Properties worth $36,251,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELS. RB Capital Management LLC lifted its holdings in Equity LifeStyle Properties by 6.1% in the 1st quarter. RB Capital Management LLC now owns 7,109 shares of the real estate investment trust’s stock worth $544,000 after purchasing an additional 407 shares during the last quarter. Raymond James & Associates increased its position in Equity LifeStyle Properties by 50.0% in the 1st quarter. Raymond James & Associates now owns 25,984 shares of the real estate investment trust’s stock worth $1,987,000 after buying an additional 8,658 shares during the period. Bank of Montreal Can increased its position in Equity LifeStyle Properties by 67.0% in the 1st quarter. Bank of Montreal Can now owns 36,421 shares of the real estate investment trust’s stock worth $2,820,000 after buying an additional 14,609 shares during the period. MetLife Investment Management LLC bought a new position in Equity LifeStyle Properties in the 1st quarter worth approximately $590,000. Finally, Yousif Capital Management LLC increased its position in Equity LifeStyle Properties by 3.2% in the 1st quarter. Yousif Capital Management LLC now owns 10,102 shares of the real estate investment trust’s stock worth $773,000 after buying an additional 314 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Equity LifeStyle Properties Price Performance

Equity LifeStyle Properties stock opened at $66.42 on Friday. 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 $12.38 billion, a P/E ratio of 39.54, a P/E/G ratio of 3.92 and a beta of 0.71. The business’s fifty day moving average is $69.73 and its two-hundred day moving average is $68.01. Equity LifeStyle Properties, Inc. has a 52 week low of $60.47 and a 52 week high of $74.04.

Equity LifeStyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be paid a $0.477 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.87%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s payout ratio is currently 106.55%.

Analyst Upgrades and Downgrades

ELS has been the topic of several recent analyst reports. Bank of America downgraded Equity LifeStyle Properties from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $70.00 to $64.00 in a research report on Monday, October 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Truist Financial lowered their price objective on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating on the stock in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price objective on the stock. Finally, StockNews.com upgraded Equity LifeStyle Properties from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $69.61.

Check Out Our Latest Report on Equity LifeStyle Properties

Equity LifeStyle Properties Company Profile

(Free Report)

We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of October 16, 2023, we own or have an interest in 450 properties in 35 states and British Columbia consisting of 171,707 sites.

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Institutional Ownership by Quarter for Equity LifeStyle Properties (NYSE:ELS)

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