Federated Hermes Inc. Decreases Stake in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Federated Hermes Inc. cut its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 13.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,456 shares of the real estate investment trust’s stock after selling 3,470 shares during the quarter. Federated Hermes Inc.’s holdings in Equity LifeStyle Properties were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Equity LifeStyle Properties during the 4th quarter valued at about $35,000. Anchor Investment Management LLC purchased a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at approximately $47,000. Kelly Lawrence W & Associates Inc. CA bought a new position in Equity LifeStyle Properties during the third quarter valued at approximately $64,000. Second Half Financial Partners LLC purchased a new stake in Equity LifeStyle Properties in the third quarter worth approximately $66,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Equity LifeStyle Properties in the 4th quarter worth approximately $77,000. 97.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on ELS. Deutsche Bank Aktiengesellschaft assumed coverage on Equity LifeStyle Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price target on the stock. Barclays dropped their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday. Wolfe Research raised shares of Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Friday, February 9th. Truist Financial dropped their price objective on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $69.55.

Equity LifeStyle Properties Trading Up 0.3 %

Equity LifeStyle Properties stock opened at $60.70 on Tuesday. 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 $60.47 and a 12-month high of $74.04. The firm has a market capitalization of $11.32 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 3.99 and a beta of 0.69. The firm has a 50 day moving average of $64.30 and a 200 day moving average of $67.06.

Equity LifeStyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were given a dividend of $0.477 per share. This represents a $1.91 annualized dividend and a dividend yield of 3.14%. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 27th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

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.