Teacher Retirement System of Texas decreased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS – Free Report) by 53.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,119 shares of the real estate investment trust’s stock after selling 36,290 shares during the period. Teacher Retirement System of Texas’ holdings in Equity LifeStyle Properties were worth $2,266,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC increased its position in shares of Equity LifeStyle Properties by 5.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,172 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 204 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Equity LifeStyle Properties in the third quarter valued at $307,000. Fifth Third Bancorp boosted its position in shares of Equity LifeStyle Properties by 12.9% during the 3rd quarter. Fifth Third Bancorp now owns 5,918 shares of the real estate investment trust’s stock worth $377,000 after acquiring an additional 678 shares in the last quarter. New Mexico Educational Retirement Board purchased a new position in shares of Equity LifeStyle Properties in the 3rd quarter valued at about $2,421,000. Finally, Congress Asset Management Co. MA raised its holdings in Equity LifeStyle Properties by 26.6% during the third quarter. Congress Asset Management Co. MA now owns 7,165 shares of the real estate investment trust’s stock worth $456,000 after purchasing an additional 1,505 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.
Equity LifeStyle Properties Price Performance
Equity LifeStyle Properties stock opened at $63.48 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $63.26 and its 200 day simple moving average is $66.78. Equity LifeStyle Properties, Inc. has a 52 week low of $59.82 and a 52 week high of $74.04. The firm has a market capitalization of $11.84 billion, a PE ratio of 34.69, a P/E/G ratio of 3.73 and a beta of 0.70.
Equity LifeStyle Properties Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.477 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.91 annualized dividend and a dividend yield of 3.01%. Equity LifeStyle Properties’s dividend payout ratio is presently 104.37%.
Analyst Upgrades and Downgrades
ELS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price for the company. Truist Financial dropped their price target on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Barclays dropped their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Wolfe Research upgraded shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, February 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.85.
Equity LifeStyle Properties Company Profile
We are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 29, 2024, we own or have an interest in 451 properties in 35 states and British Columbia consisting of 172,465 sites.
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