Swiss National Bank Sells 15,600 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Swiss National Bank trimmed its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 553,400 shares of the real estate investment trust’s stock after selling 15,600 shares during the period. Swiss National Bank owned about 0.30% of Equity LifeStyle Properties worth $39,037,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its position in 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 acquiring an additional 204 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Equity LifeStyle Properties by 87.1% in the third quarter. Bank of New York Mellon Corp now owns 1,925,036 shares of the real estate investment trust’s stock valued at $122,644,000 after purchasing an additional 896,361 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Equity LifeStyle Properties during the third quarter valued at approximately $8,503,000. Park Avenue Securities LLC bought a new stake in Equity LifeStyle Properties during the third quarter worth $307,000. Finally, Hoxton Planning & Management LLC purchased a new stake in Equity LifeStyle Properties in the 3rd quarter valued at $2,165,000. 97.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ELS has been the topic of several recent analyst reports. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Friday, February 9th. Barclays cut their price target on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Truist Financial decreased their price objective on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.85.

Equity LifeStyle Properties Stock Performance

NYSE:ELS opened at $63.03 on Wednesday. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $74.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03. The business has a fifty day simple moving average of $63.78 and a two-hundred day simple moving average of $66.91. The company has a market capitalization of $11.76 billion, a P/E ratio of 34.44, a P/E/G ratio of 3.73 and a beta of 0.70.

Equity LifeStyle Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

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.