Equity Lifestyle Properties, Inc. $ELS Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group trimmed its ELS position by 3.9%, selling 43,909 shares and now holds 1,083,065 shares (~0.56% of the company) worth about $65.6 million.
• Dividend increase: ELS raised its quarterly dividend to $0.5425 (annualized $2.17) for a ~3.4% yield, while its dividend payout ratio is elevated at 107.96%.
• Analyst sentiment is mixed but generally positive, with a consensus rating of "Moderate Buy" and an average price target of $69.05 following several upgrades and downgrades.

Sumitomo Mitsui Trust Group Inc. cut its position in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,083,065 shares of the real estate investment trust's stock after selling 43,909 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.56% of Equity Lifestyle Properties worth $65,645,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC increased its holdings 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 valued at $435,000 after buying an additional 804 shares during the last quarter. Jane Street Group LLC raised its stake in Equity Lifestyle Properties by 598.5% in the first quarter. Jane Street Group LLC now owns 119,397 shares of the real estate investment trust's stock valued at $7,964,000 after buying an additional 102,303 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Equity Lifestyle Properties by 62.3% during the 1st quarter. Intech Investment Management LLC now owns 23,114 shares of the real estate investment trust's stock worth $1,542,000 after buying an additional 8,873 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Equity Lifestyle Properties by 111.0% during the 2nd quarter. Cetera Investment Advisers now owns 10,122 shares of the real estate investment trust's stock worth $624,000 after acquiring an additional 5,325 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Equity Lifestyle Properties during the 2nd quarter worth about $300,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of the sale, the director owned 14,890 shares in the company, valued at approximately $1,000,905.80. The trade was a 16.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ELS. Zelman & Associates started coverage on Equity Lifestyle Properties in a research report on Monday, March 16th. They set an "underperform" rating and a $59.25 target price on the stock. Wall Street Zen raised Equity Lifestyle Properties from a "sell" rating to a "hold" rating in a report on Saturday. Deutsche Bank Aktiengesellschaft cut shares of Equity Lifestyle Properties from a "buy" rating to a "hold" rating and set a $65.00 price objective on the stock. in a report on Tuesday, January 20th. Bank of America upgraded shares of Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $76.00 price objective for the company in a research report on Tuesday, February 3rd. Finally, Zacks Research upgraded shares of Equity Lifestyle Properties from a "strong sell" rating to a "hold" rating in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Equity Lifestyle Properties presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.05.

Equity Lifestyle Properties Stock Up 0.5%

ELS opened at $64.59 on Wednesday. The business's 50-day simple moving average is $65.89 and its 200-day simple moving average is $63.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year high of $69.00. The stock has a market capitalization of $12.53 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 3.58 and a beta of 0.76.

Equity Lifestyle Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were paid a dividend of $0.5425 per share. The ex-dividend date was Friday, March 27th. This represents a $2.17 dividend on an annualized basis and a yield of 3.4%. This is a boost from Equity Lifestyle Properties's previous quarterly dividend of $0.52. Equity Lifestyle Properties's dividend payout ratio (DPR) is 107.96%.

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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