Citigroup Inc. Cuts Stake in Equity Lifestyle Properties, Inc. $ELS

Citigroup Inc. cut its stake in shares of Equity Lifestyle Properties, Inc. (NYSE:ELS) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,111 shares of the real estate investment trust’s stock after selling 30,231 shares during the quarter. Citigroup Inc. owned about 0.09% of Equity Lifestyle Properties worth $10,933,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. grew its position in Equity Lifestyle Properties by 126.9% during the 3rd quarter. Bessemer Group Inc. now owns 574 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 321 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Equity Lifestyle Properties by 204.1% in the second quarter. Allworth Financial LP now owns 660 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 443 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Equity Lifestyle Properties by 81.8% during the third quarter. Smartleaf Asset Management LLC now owns 840 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 378 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Equity Lifestyle Properties by 27.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,250 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 269 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Equity Lifestyle Properties by 21.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,974 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties Stock Down 0.8%

Equity Lifestyle Properties stock opened at $67.25 on Friday. Equity Lifestyle Properties, Inc. has a one year low of $58.15 and a one year high of $70.35. The stock has a fifty day moving average of $63.71 and a 200 day moving average of $62.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market cap of $13.04 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 3.73 and a beta of 0.76.

Equity Lifestyle Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a $0.5425 dividend. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.2%. Equity Lifestyle Properties’s payout ratio is 102.49%.

Analysts Set New Price Targets

ELS has been the topic of several recent analyst reports. Bank of America upgraded Equity Lifestyle Properties from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Tuesday, February 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 price objective (up from $72.00) on shares of Equity Lifestyle Properties in a research report on Wednesday, February 18th. Wells Fargo & Company reissued an “equal weight” rating and issued a $70.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Friday. Truist Financial upped their target price on shares of Equity Lifestyle Properties from $66.00 to $69.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $70.00 price target on shares of Equity Lifestyle Properties in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.42.

About Equity Lifestyle Properties

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.