Equity LifeStyle Properties, Inc. (NYSE:ELS) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,179 shares of the real estate investment trust’s stock after selling 3,027 shares during the quarter. Truist Financial Corp’s holdings in Equity LifeStyle Properties were worth $1,610,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Equity LifeStyle Properties during the 4th quarter worth about $30,000. Board of the Pension Protection Fund acquired a new position in Equity LifeStyle Properties in the fourth quarter valued at about $33,000. MassMutual Private Wealth & Trust FSB boosted its stake in Equity LifeStyle Properties by 43.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 171 shares during the period. UMB Bank n.a. increased its position in shares of Equity LifeStyle Properties by 68.2% during the fourth quarter. UMB Bank n.a. now owns 898 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 364 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity LifeStyle Properties in the 3rd quarter valued at approximately $72,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ELS shares. Robert W. Baird increased their price objective on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Evercore ISI lowered their price target on Equity LifeStyle Properties from $74.00 to $73.00 and set an “in-line” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada cut their price objective on Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and increased their target price for the stock from $72.00 to $80.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating and lifted their target price for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.78.

Equity LifeStyle Properties Stock Performance

Shares of ELS opened at $68.26 on Friday. Equity LifeStyle Properties, Inc. has a 1 year low of $59.82 and a 1 year high of $76.60. The stock has a market capitalization of $13.04 billion, a PE ratio of 35.01, a PEG ratio of 3.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. The stock has a 50-day simple moving average of $66.28 and a 200-day simple moving average of $69.18.

Equity LifeStyle Properties (NYSE:ELS) last issued its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. Equity LifeStyle Properties had a net margin of 24.05% and a return on equity of 23.12%. On average, analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 earnings per share for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, March 28th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. Equity LifeStyle Properties’s dividend payout ratio is 105.64%.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.