Equity Lifestyle Properties, Inc. $ELS Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 3.9% during the 4th quarter, HoldingsChannel reports. The firm owned 1,083,065 shares of the real estate investment trust’s stock after selling 43,909 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Equity Lifestyle Properties were worth $65,645,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC acquired a new stake in shares of Equity Lifestyle Properties during the fourth quarter worth about $25,000. Wiser Advisor Group LLC acquired a new position in Equity Lifestyle Properties in the 3rd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased its position in Equity Lifestyle Properties by 943.8% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 453 shares during the period. Fulcrum Asset Management LLP purchased a new stake in Equity Lifestyle Properties during the 3rd quarter valued at approximately $34,000. Finally, Bessemer Group Inc. lifted its position in Equity Lifestyle Properties by 126.9% during the 3rd quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 321 shares during the period. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock opened at $64.59 on Wednesday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $65.89 and a 200-day simple moving average of $63.27. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 3.58 and a beta of 0.76. Equity Lifestyle Properties, Inc. has a 12-month low of $58.15 and a 12-month high of $69.00.

Equity Lifestyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were issued a dividend of $0.5425 per share. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, March 27th. Equity Lifestyle Properties’s dividend payout ratio is currently 107.96%.

Insider Transactions at Equity Lifestyle Properties

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $67.22, for a total value of $201,660.00. Following the completion of the sale, the director owned 14,890 shares of the company’s stock, valued at approximately $1,000,905.80. This trade represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group set a $67.00 target price on Equity Lifestyle Properties and gave the company a “buy” rating in a research note on Thursday, January 8th. Truist Financial increased their price target on Equity Lifestyle Properties from $66.00 to $69.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. Zelman & Associates assumed coverage on shares of Equity Lifestyle Properties in a research note on Monday, March 16th. They issued an “underperform” rating and a $59.25 price objective on the stock. Mizuho assumed coverage on shares of Equity Lifestyle Properties in a research report on Tuesday, March 31st. They set an “outperform” rating and a $72.00 price objective for the company. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $70.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.05.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.