Equity Lifestyle Properties, Inc. $ELS Stock: Sumitomo Mitsui Trust Group Inc. Reduces Stake

Key Points

• Sumitomo Mitsui Trust Group cut its Equity Lifestyle Properties stake by 79.7% in the third quarter, selling 736,331 shares and retaining 187,610 shares valued at about $10.9 million.
• Analysts’ consensus rating is Hold, with an average price target of $67.02; recent targets range from $63 to $68, alongside a mix of Buy, Hold, and Sell ratings.
• The REIT’s latest quarterly EPS of $0.45 missed the $0.79 consensus, although revenue rose 4.2% year over year to $409.9 million. It declared a quarterly dividend of $0.5425 per share, equivalent to a 3.4% yield.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 79.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,610 shares of the real estate investment trust's stock after selling 736,331 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of Equity Lifestyle Properties worth $10,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ELS. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Equity Lifestyle Properties during the 3rd quarter valued at about $46,000. ProShare Advisors LLC grew its holdings in Equity Lifestyle Properties by 2.2% during the 3rd quarter. ProShare Advisors LLC now owns 420,664 shares of the real estate investment trust's stock valued at $24,537,000 after buying an additional 9,189 shares in the last quarter. State of Wyoming purchased a new position in Equity Lifestyle Properties during the 3rd quarter valued at approximately $193,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Equity Lifestyle Properties by 17.1% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 323,047 shares of the real estate investment trust's stock worth $18,843,000 after acquiring an additional 47,200 shares during the last quarter. Finally, BOKF NA increased its stake in Equity Lifestyle Properties by 1.5% in the 3rd quarter. BOKF NA now owns 13,169 shares of the real estate investment trust's stock worth $768,000 after acquiring an additional 201 shares during the last quarter. Institutional investors own 97.21% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ELS shares. Evercore set a $68.00 target price on Equity Lifestyle Properties in a research report on Monday, September 21st. Wells Fargo & Company set a $64.00 price target on shares of Equity Lifestyle Properties and gave the company an "equal weight" rating in a report on Monday, October 19th. Jefferies Financial Group upgraded Equity Lifestyle Properties to a "strong-buy" rating in a research report on Monday, October 12th. UBS Group reduced their price objective on Equity Lifestyle Properties from $76.00 to $67.00 and set a "buy" rating on the stock in a research note on Tuesday, October 6th. Finally, Truist Financial decreased their price objective on Equity Lifestyle Properties from $64.00 to $63.00 and set a "hold" rating on the stock in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Equity Lifestyle Properties has a consensus rating of "Hold" and a consensus target price of $67.02.

Equity Lifestyle Properties Trading Down 0.0%

Shares of ELS traded down $0.02 during mid-day trading on Friday, reaching $62.96. 2,320,323 shares of the company's stock traded hands, compared to its average volume of 2,266,266. The stock has a market cap of $12.26 billion, a P/E ratio of 31.01, a P/E/G ratio of 3.67 and a beta of 0.60. The stock's 50-day moving average is $60.41 and its two-hundred day moving average is $63.51. Equity Lifestyle Properties, Inc. has a 12 month low of $57.46 and a 12 month high of $69.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.02 and a quick ratio of 0.02.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.34). Equity Lifestyle Properties had a return on equity of 21.73% and a net margin of 24.97%. The business had revenue of $409.90 million for the quarter, compared to the consensus estimate of $402.75 million. During the same period in the prior year, the business posted $0.75 earnings per share. Equity Lifestyle Properties's revenue was up 4.2% on a year-over-year basis. Equity Lifestyle Properties has set its Q4 2026 guidance at 0.780-0.840 EPS and its FY 2026 guidance at 3.150-3.210 EPS. Research analysts forecast that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Thursday, December 24th will be paid a $0.5425 dividend. The ex-dividend date of this dividend is Thursday, December 24th. This represents a $2.17 dividend on an annualized basis and a yield of 3.4%. Equity Lifestyle Properties's payout ratio is 106.90%.

Equity Lifestyle Properties Profile

Equity LifeStyle Properties, Inc NYSE: ELS is a real estate investment trust that owns, operates and manages manufactured housing communities, recreational vehicle resorts and campgrounds, and marinas. Its properties are designed to provide residential and vacation accommodations, with offerings that range from long-term manufactured home sites to seasonal and transient RV sites and boat storage.

The company serves residents, vacationers and boat owners across the United States. Its portfolio is concentrated in locations with favorable climates, recreational appeal and access to coastal, lakefront or other leisure destinations.

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