Sumitomo Mitsui Trust Holdings Inc. Has $45.16 Million Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 640,236 shares of the real estate investment trust’s stock after purchasing an additional 7,234 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.34% of Equity LifeStyle Properties worth $45,162,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in ELS. RB Capital Management LLC increased its stake in shares of Equity LifeStyle Properties by 6.1% during the first quarter. RB Capital Management LLC now owns 7,109 shares of the real estate investment trust’s stock worth $544,000 after purchasing an additional 407 shares during the period. Raymond James & Associates increased its stake in shares of Equity LifeStyle Properties by 50.0% during the first quarter. Raymond James & Associates now owns 25,984 shares of the real estate investment trust’s stock worth $1,987,000 after purchasing an additional 8,658 shares during the period. Bank of Montreal Can increased its stake in shares of Equity LifeStyle Properties by 67.0% during the first quarter. Bank of Montreal Can now owns 36,421 shares of the real estate investment trust’s stock worth $2,820,000 after purchasing an additional 14,609 shares during the period. MetLife Investment Management LLC bought a new position in shares of Equity LifeStyle Properties during the first quarter worth approximately $590,000. Finally, Yousif Capital Management LLC increased its stake in shares of Equity LifeStyle Properties by 3.2% during the first quarter. Yousif Capital Management LLC now owns 10,102 shares of the real estate investment trust’s stock worth $773,000 after purchasing an additional 314 shares during the period. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Trading Up 0.7 %

Shares of ELS opened at $62.74 on Friday. Equity LifeStyle Properties, Inc. has a 52-week low of $60.47 and a 52-week high of $74.04. The business’s fifty day moving average is $64.93 and its 200-day moving average is $67.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of 37.35, a PEG ratio of 3.71 and a beta of 0.69.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were paid a $0.477 dividend. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 27th. This represents a $1.91 annualized dividend and a dividend yield of 3.04%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 113.69%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ELS. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $64.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Finally, Truist Financial lowered their price objective on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating on the stock in a research note on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Equity LifeStyle Properties has an average rating of “Hold” and an average target price of $70.15.

Equity LifeStyle Properties 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.