Aew Capital Management L P Cuts Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Aew Capital Management L P lowered its stake in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,163 shares of the real estate investment trust’s stock after selling 15,080 shares during the quarter. Aew Capital Management L P’s holdings in Equity LifeStyle Properties were worth $9,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Equity LifeStyle Properties during the fourth quarter valued at about $35,000. GAMMA Investing LLC bought a new stake in Equity LifeStyle Properties during the fourth quarter valued at about $44,000. Lindbrook Capital LLC boosted its position in Equity LifeStyle Properties by 40.5% during the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 182 shares in the last quarter. Anchor Investment Management LLC bought a new stake in Equity LifeStyle Properties during the fourth quarter valued at about $47,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in Equity LifeStyle Properties in the third quarter worth about $64,000. Institutional investors own 97.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ELS has been the subject of several recent analyst reports. Wolfe Research raised Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Friday, February 9th. Barclays lowered their price target on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target for the company. Finally, Truist Financial lowered their price target on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $69.55.

Equity LifeStyle Properties Stock Performance

ELS stock traded down $0.23 during trading on Friday, hitting $60.52. 1,117,333 shares of the company traded hands, compared to its average volume of 1,250,911. The stock’s 50-day simple moving average is $64.53 and its 200 day simple moving average is $67.08. 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 company has a market cap of $11.29 billion, a PE ratio of 33.07, a P/E/G ratio of 4.04 and a beta of 0.69. Equity LifeStyle Properties, Inc. has a 1 year low of $60.47 and a 1 year high of $74.04.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.477 per share. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 annualized dividend and a yield of 3.15%. The ex-dividend date was Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

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.