Daiwa Securities Group Inc. Lowers Stock Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Daiwa Securities Group Inc. trimmed its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,644 shares of the real estate investment trust’s stock after selling 2,654 shares during the period. Daiwa Securities Group Inc.’s holdings in Equity LifeStyle Properties were worth $4,983,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ELS. Eagle Bay Advisors LLC acquired a new position in Equity LifeStyle Properties during the second quarter worth $30,000. Anchor Investment Management LLC purchased a new stake in shares of Equity LifeStyle Properties during the 4th quarter worth $47,000. Brown Brothers Harriman & Co. acquired a new position in shares of Equity LifeStyle Properties during the 1st quarter worth $59,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Equity LifeStyle Properties in the 3rd quarter valued at about $64,000. Finally, Second Half Financial Partners LLC purchased a new position in shares of Equity LifeStyle Properties in the 3rd quarter valued at about $66,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ELS. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $64.00 target price on the stock. Truist Financial lowered their price target on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Finally, Wolfe Research raised Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $70.15.

Equity LifeStyle Properties Stock Performance

Equity LifeStyle Properties stock opened at $62.74 on Friday. Equity LifeStyle Properties, Inc. has a fifty-two week low of $60.47 and a fifty-two week high of $74.04. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 37.35, a PEG ratio of 3.71 and a beta of 0.69. The stock has a fifty day moving average of $64.93 and a two-hundred day moving average of $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.

Equity LifeStyle Properties Increases Dividend

The business also recently disclosed 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 represents a $1.91 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Wednesday, March 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 113.69%.

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.