Sumitomo Mitsui Trust Group Inc. Sells 9,729 Shares of Equity Lifestyle Properties, Inc. (NYSE:ELS)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 563,681 shares of the real estate investment trust's stock after selling 9,729 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.29% of Equity Lifestyle Properties worth $37,598,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in shares of Equity Lifestyle Properties by 121.4% during the 4th quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 210 shares in the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of Equity Lifestyle Properties in the 4th quarter valued at approximately $73,000. Farther Finance Advisors LLC increased its holdings in Equity Lifestyle Properties by 78.7% in the first quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust's stock worth $96,000 after buying an additional 635 shares during the last quarter. Signaturefd LLC raised its position in Equity Lifestyle Properties by 32.9% during the fourth quarter. Signaturefd LLC now owns 1,854 shares of the real estate investment trust's stock valued at $123,000 after acquiring an additional 459 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Equity Lifestyle Properties by 351.6% in the first quarter. Blue Trust Inc. now owns 1,865 shares of the real estate investment trust's stock valued at $124,000 after acquiring an additional 1,452 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on ELS shares. Truist Financial dropped their price target on shares of Equity Lifestyle Properties from $72.00 to $71.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Barclays started coverage on shares of Equity Lifestyle Properties in a report on Thursday, May 29th. They issued an "equal weight" rating and a $70.00 price objective for the company. Jefferies Financial Group assumed coverage on Equity Lifestyle Properties in a report on Tuesday, April 8th. They set a "buy" rating and a $80.00 target price on the stock. Finally, BMO Capital Markets reduced their price target on Equity Lifestyle Properties from $78.00 to $77.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $73.90.

Insider Buying and Selling at Equity Lifestyle Properties

In other news, CFO Paul Seavey sold 10,000 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $64.72, for a total value of $647,200.00. Following the sale, the chief financial officer owned 78,162 shares in the company, valued at approximately $5,058,644.64. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Equity Lifestyle Properties Stock Performance

ELS traded up $0.48 during trading on Thursday, hitting $62.12. The stock had a trading volume of 870,522 shares, compared to its average volume of 1,314,949. The firm has a market cap of $11.88 billion, a PE ratio of 32.19, a P/E/G ratio of 3.33 and a beta of 0.72. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.14. Equity Lifestyle Properties, Inc. has a 12 month low of $58.86 and a 12 month high of $76.60. The company has a 50 day simple moving average of $63.34 and a 200-day simple moving average of $65.32.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. Equity Lifestyle Properties had a return on equity of 21.99% and a net margin of 23.99%. The company had revenue of $327.21 million for the quarter, compared to the consensus estimate of $391.34 million. During the same period last year, the business posted $0.59 earnings per share. Analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.515 per share. The ex-dividend date is Friday, June 27th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.32%. Equity Lifestyle Properties's dividend payout ratio (DPR) is presently 106.74%.

About Equity Lifestyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.