Truist Financial Corp Sells 1,783 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Truist Financial Corp lowered its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,354 shares of the real estate investment trust’s stock after selling 1,783 shares during the quarter. Truist Financial Corp’s holdings in Equity LifeStyle Properties were worth $2,071,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Equity LifeStyle Properties during the fourth quarter valued at approximately $35,000. GAMMA Investing LLC purchased a new position in Equity LifeStyle Properties during the fourth quarter valued at $44,000. Lindbrook Capital LLC grew its stake in Equity LifeStyle Properties by 40.5% during the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 182 shares in the last quarter. Anchor Investment Management LLC bought a new stake in Equity LifeStyle Properties in the 4th quarter valued at $47,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in Equity LifeStyle Properties in the 3rd quarter worth $64,000. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Up 0.5 %

Shares of ELS opened at $63.04 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $63.63 and a 200 day moving average of $66.85. The company has a market cap of $11.76 billion, a PE ratio of 34.45, a P/E/G ratio of 3.73 and a beta of 0.70. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $74.04.

Equity LifeStyle Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.477 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.91 annualized dividend and a dividend yield of 3.03%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 104.37%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Friday, February 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Barclays decreased their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft initiated 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 for the company. Finally, Truist Financial decreased their price target on shares of Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $68.85.

Equity LifeStyle Properties Company 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.