Allspring Global Investments Holdings LLC Sells 4,674 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Allspring Global Investments Holdings LLC reduced its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 64.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,544 shares of the real estate investment trust’s stock after selling 4,674 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Equity LifeStyle Properties were worth $179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ELS. Tiemann Investment Advisors LLC raised its holdings in Equity LifeStyle Properties by 1.4% in the third quarter. Tiemann Investment Advisors LLC now owns 11,211 shares of the real estate investment trust’s stock worth $714,000 after buying an additional 155 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Equity LifeStyle Properties by 0.3% during the third quarter. Teacher Retirement System of Texas now owns 68,409 shares of the real estate investment trust’s stock valued at $4,358,000 after acquiring an additional 172 shares in the last quarter. CWM LLC raised its holdings in Equity LifeStyle Properties by 10.8% in the 3rd quarter. CWM LLC now owns 2,029 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 198 shares during the last quarter. State of Michigan Retirement System lifted its position in Equity LifeStyle Properties by 0.4% in the 4th quarter. State of Michigan Retirement System now owns 44,700 shares of the real estate investment trust’s stock valued at $3,153,000 after acquiring an additional 200 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Equity LifeStyle Properties by 5.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,172 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Trading Down 0.4 %

Shares of ELS stock opened at $60.53 on Monday. Equity LifeStyle Properties, Inc. has a 1 year low of $60.47 and a 1 year high of $74.04. The firm has a fifty day moving average price of $64.41 and a 200-day moving average price of $67.09. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 3.99 and a beta of 0.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

Wall Street Analyst Weigh In

ELS has been the subject of a number of research analyst reports. Truist Financial reduced their target price on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, January 24th. Wolfe Research raised Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Friday, February 9th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Equity LifeStyle Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price on the stock. Finally, Barclays decreased their target price on shares of Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research note on Friday. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.55.

About Equity LifeStyle Properties

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.