California Public Employees Retirement System Sells 13,556 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

California Public Employees Retirement System decreased its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 654,819 shares of the real estate investment trust’s stock after selling 13,556 shares during the period. California Public Employees Retirement System’s holdings in Equity LifeStyle Properties were worth $46,191,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several analysts have commented on ELS shares. 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 on the stock. Wolfe Research raised 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. Truist Financial lowered their target price on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, January 24th. Barclays dropped their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.55.

Equity LifeStyle Properties Trading Down 0.4 %

NYSE ELS opened at $60.52 on Friday. The company has a market cap of $11.29 billion, a PE ratio of 33.07, a PEG ratio of 4.00 and a beta of 0.69. Equity LifeStyle Properties, Inc. has a 12 month low of $60.47 and a 12 month high of $74.04. The stock has a 50 day moving average of $64.53 and a 200-day moving average of $67.08. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.15%. 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. Equity LifeStyle Properties’s dividend payout ratio (DPR) is 104.37%.

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.