Sumitomo Mitsui Trust Group Inc. Sells 315,213 Shares of Equity Lifestyle Properties, Inc. $ELS

Sumitomo Mitsui Trust Group Inc. decreased its position in Equity Lifestyle Properties, Inc. (NYSE:ELS) by 29.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 767,852 shares of the real estate investment trust’s stock after selling 315,213 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Equity Lifestyle Properties were worth $47,929,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ELS. GoalVest Advisory LLC bought a new stake in Equity Lifestyle Properties in the 4th quarter valued at approximately $25,000. Wiser Advisor Group LLC bought a new position in shares of Equity Lifestyle Properties in the 3rd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased its position in shares of Equity Lifestyle Properties by 943.8% in the third 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 last quarter. Clearstead Trust LLC raised its holdings in Equity Lifestyle Properties by 74.8% during the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 231 shares in the last quarter. Finally, Fulcrum Asset Management LLP bought a new stake in Equity Lifestyle Properties during the third quarter worth about $34,000. 97.21% of the stock is currently owned by institutional investors.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock opened at $63.55 on Monday. Equity Lifestyle Properties, Inc. has a 52 week low of $58.15 and a 52 week high of $69.00. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.86 and a beta of 0.66. The company has a 50-day simple moving average of $63.22 and a 200 day simple moving average of $63.91. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.04 and a current ratio of 0.04.

Equity Lifestyle Properties (NYSE:ELS) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.28). Equity Lifestyle Properties had a return on equity of 21.22% and a net margin of 24.99%.The company had revenue of $397.62 million for the quarter, compared to analyst estimates of $395.71 million. During the same quarter last year, the business earned $0.57 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that Equity Lifestyle Properties, Inc. will post 3.18 earnings per share for the current year.

Equity Lifestyle Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a $0.5425 dividend. The ex-dividend date was Friday, June 26th. This represents a $2.17 annualized dividend and a dividend yield of 3.4%. Equity Lifestyle Properties’s dividend payout ratio is 108.50%.

Wall Street Analyst Weigh In

ELS has been the subject of several recent analyst reports. Zelman & Associates initiated coverage on Equity Lifestyle Properties in a report on Monday, March 16th. They issued an “underperform” rating and a $59.25 price objective for the company. Jefferies Financial Group raised shares of Equity Lifestyle Properties to a “strong-buy” rating in a research report on Friday, June 26th. Robert W. Baird lifted their price objective on shares of Equity Lifestyle Properties from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company cut their target price on shares of Equity Lifestyle Properties from $70.00 to $69.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.92.

Equity Lifestyle Properties Company Profile

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.