Equity Lifestyle Properties, Inc. $ELS Shares Sold by Chai Trust Co. LLC

Key Points

• Chai Trust Co. LLC cut its stake in Equity Lifestyle Properties by 66.6% in Q3, selling 1,506,337 shares and leaving it with 756,381 shares (about 0.39% of ELS) valued at roughly $45.9 million, making ELS its sixth-largest holding.
• Equity Lifestyle raised its quarterly dividend to $0.5425 (annualized $2.17) for a 3.2% yield with an ex-dividend date of March 27, though the payout ratio stands at a high 102.49%.
• Shares trade near $67.83 with a market cap of $13.16 billion, and analysts hold a consensus of "Moderate Buy" with an average price target of $70.42.

Chai Trust Co. LLC lowered its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 66.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 756,381 shares of the real estate investment trust's stock after selling 1,506,337 shares during the quarter. Equity Lifestyle Properties accounts for about 2.6% of Chai Trust Co. LLC's holdings, making the stock its 6th largest position. Chai Trust Co. LLC owned 0.39% of Equity Lifestyle Properties worth $45,912,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Empowered Funds LLC lifted its position in Equity Lifestyle Properties by 14.1% in the first quarter. Empowered Funds LLC now owns 6,516 shares of the real estate investment trust's stock worth $435,000 after purchasing an additional 804 shares during the period. Jane Street Group LLC boosted its stake in Equity Lifestyle Properties by 598.5% during the first quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust's stock worth $7,964,000 after buying an additional 102,303 shares in the last quarter. Intech Investment Management LLC increased its holdings in Equity Lifestyle Properties by 62.3% in the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust's stock valued at $1,542,000 after buying an additional 8,873 shares during the period. Savant Capital LLC acquired a new position in shares of Equity Lifestyle Properties in the 2nd quarter valued at $340,000. Finally, Allworth Financial LP raised its stake in shares of Equity Lifestyle Properties by 204.1% in the 2nd quarter. Allworth Financial LP now owns 660 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Equity Lifestyle Properties Stock Down 0.1%

Shares of NYSE ELS opened at $67.83 on Friday. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $69.28. The firm's 50-day simple moving average is $65.06 and its 200 day simple moving average is $62.70. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.30. The company has a market cap of $13.16 billion, a price-to-earnings ratio of 33.75, a price-to-earnings-growth ratio of 3.77 and a beta of 0.75.

Equity Lifestyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 3.2%. This is a boost from Equity Lifestyle Properties's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, March 27th. Equity Lifestyle Properties's payout ratio is currently 102.49%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ELS. Weiss Ratings reiterated a "hold (c)" rating on shares of Equity Lifestyle Properties in a research report on Thursday, January 22nd. Truist Financial increased their price target on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the stock a "hold" rating in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft cut shares of Equity Lifestyle Properties from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a research note on Tuesday, January 20th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $70.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a report on Friday, February 27th. Finally, Barclays reiterated an "overweight" rating and issued a $71.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $70.42.

Equity Lifestyle Properties 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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