American International Group Inc. Sells 10,683 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

American International Group Inc. reduced its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,208 shares of the real estate investment trust’s stock after selling 10,683 shares during the period. American International Group Inc. owned approximately 0.14% of Equity LifeStyle Properties worth $17,791,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Equity LifeStyle Properties by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 24,909,450 shares of the real estate investment trust’s stock valued at $1,586,981,000 after buying an additional 472,855 shares in the last quarter. Aristotle Capital Management LLC increased its holdings in Equity LifeStyle Properties by 17.1% during the 3rd quarter. Aristotle Capital Management LLC now owns 11,536,605 shares of the real estate investment trust’s stock worth $734,997,000 after acquiring an additional 1,681,198 shares during the period. Chai Trust Co. LLC lifted its stake in Equity LifeStyle Properties by 1.1% in the 3rd quarter. Chai Trust Co. LLC now owns 9,055,685 shares of the real estate investment trust’s stock worth $576,938,000 after purchasing an additional 102,696 shares in the last quarter. Norges Bank bought a new position in Equity LifeStyle Properties in the 4th quarter valued at $455,623,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Equity LifeStyle Properties by 17.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,743,596 shares of the real estate investment trust’s stock valued at $193,533,000 after purchasing an additional 410,042 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Truist Financial lowered their price target on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Equity LifeStyle Properties currently has a consensus rating of “Hold” and an average price target of $68.85.

Equity LifeStyle Properties Price Performance

Shares of ELS stock traded up $0.31 during trading hours on Friday, hitting $62.72. 952,375 shares of the company’s stock were exchanged, compared to its average volume of 982,568. The company has a market capitalization of $11.70 billion, a PE ratio of 34.27, a PEG ratio of 3.58 and a beta of 0.75. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33. Equity LifeStyle Properties, Inc. has a 12-month low of $59.82 and a 12-month high of $74.04. The business’s 50 day simple moving average is $62.42 and its 200-day simple moving average is $66.05.

Equity LifeStyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a dividend of $0.477 per share. The ex-dividend date is Friday, June 28th. This represents a $1.91 annualized dividend and a yield of 3.04%. Equity LifeStyle Properties’s payout ratio is 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.