Equity Lifestyle Properties, Inc. $ELS Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its position in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 19.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 217,478 shares of the real estate investment trust's stock after selling 52,427 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of Equity Lifestyle Properties worth $13,575,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ELS. Royal Bank of Canada increased its position in Equity Lifestyle Properties by 9.3% during the first quarter. Royal Bank of Canada now owns 560,685 shares of the real estate investment trust's stock worth $34,997,000 after purchasing an additional 47,608 shares during the last quarter. Resolution Capital Ltd boosted its position in Equity Lifestyle Properties by 3.3% during the 1st quarter. Resolution Capital Ltd now owns 1,885,292 shares of the real estate investment trust's stock worth $117,680,000 after purchasing an additional 59,809 shares during the period. Quantinno Capital Management LP increased its holdings in Equity Lifestyle Properties by 3.5% in the 1st quarter. Quantinno Capital Management LP now owns 1,100,566 shares of the real estate investment trust's stock valued at $68,697,000 after purchasing an additional 36,790 shares in the last quarter. BROOKFIELD Corp ON purchased a new stake in shares of Equity Lifestyle Properties during the 1st quarter valued at about $19,429,000. Finally, Delta Global Management LP purchased a new stake in shares of Equity Lifestyle Properties during the first quarter valued at approximately $2,233,000. Hedge funds and other institutional investors own 97.21% of the company's stock.

Equity Lifestyle Properties Price Performance

ELS stock opened at $65.18 on Monday. The firm has a 50-day moving average of $63.99 and a two-hundred day moving average of $64.41. The firm has a market capitalization of $12.65 billion, a PE ratio of 31.34, a P/E/G ratio of 3.96 and a beta of 0.64. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.31. Equity Lifestyle Properties, Inc. has a one year low of $58.37 and a one year high of $69.00.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.22). Equity Lifestyle Properties had a return on equity of 22.31% and a net margin of 25.92%.The business had revenue of $397.81 million during the quarter, compared to analyst estimates of $383.66 million. During the same period last year, the business earned $0.69 EPS. The business's quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be paid a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, September 25th. Equity Lifestyle Properties's dividend payout ratio is 104.33%.

Analyst Upgrades and Downgrades

ELS has been the topic of several analyst reports. Odeon Capital Group set a $65.00 price target on shares of Equity Lifestyle Properties in a research note on Thursday, July 9th. Wall Street Zen upgraded shares of Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Weiss Ratings lowered shares of Equity Lifestyle Properties from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday. Truist Financial set a $67.00 price target on Equity Lifestyle Properties and gave the stock a "hold" rating in a research note on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Equity Lifestyle Properties from a "hold" rating to a "buy" rating and set a $72.00 price target for the company in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $68.70.

Equity Lifestyle Properties Company Profile

Equity Lifestyle Properties, Inc NYSE: ELS is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company's portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.

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