Hunter Perkins Capital Management LLC Decreases Position in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Hunter Perkins Capital Management LLC trimmed its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 305,532 shares of the real estate investment trust’s stock after selling 9,935 shares during the period. Equity LifeStyle Properties makes up approximately 4.5% of Hunter Perkins Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Hunter Perkins Capital Management LLC owned approximately 0.16% of Equity LifeStyle Properties worth $21,650,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Duality Advisers LP bought a new position in shares of Equity LifeStyle Properties in the third quarter worth approximately $384,000. Janney Montgomery Scott LLC grew its position in Equity LifeStyle Properties by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 163,018 shares of the real estate investment trust’s stock valued at $10,386,000 after acquiring an additional 5,318 shares during the last quarter. Rhumbline Advisers grew its position in Equity LifeStyle Properties by 108.7% during the third quarter. Rhumbline Advisers now owns 597,164 shares of the real estate investment trust’s stock valued at $38,045,000 after acquiring an additional 310,996 shares during the last quarter. Korea Investment CORP grew its position in Equity LifeStyle Properties by 557.8% during the third quarter. Korea Investment CORP now owns 231,446 shares of the real estate investment trust’s stock valued at $14,745,000 after acquiring an additional 196,259 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Equity LifeStyle Properties by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,333,554 shares of the real estate investment trust’s stock valued at $148,671,000 after acquiring an additional 67,508 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors.

Equity LifeStyle Properties Trading Up 1.9 %

ELS stock traded up $1.17 on Wednesday, reaching $64.11. The company’s stock had a trading volume of 646,448 shares, compared to its average volume of 1,148,039. The business has a fifty day simple moving average of $66.60 and a two-hundred day simple moving average of $67.51. 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 cap of $11.96 billion, a PE ratio of 37.75, a PEG ratio of 3.80 and a beta of 0.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be paid a $0.477 dividend. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.91 dividend on an annualized basis and a yield of 2.98%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is presently 106.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ELS shares. Truist Financial reduced their price target on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating on the stock in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $64.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a research note on Wednesday, January 31st. Finally, Wolfe Research raised 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 note on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Equity LifeStyle Properties currently has a consensus rating of “Hold” and a consensus price target of $70.15.

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.