Corebridge Financial Inc. Sells 4,388 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Corebridge Financial Inc. decreased its holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 216,161 shares of the real estate investment trust’s stock after selling 4,388 shares during the quarter. Corebridge Financial Inc.’s holdings in Equity LifeStyle Properties were worth $14,396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ELS. MassMutual Private Wealth & Trust FSB raised its position in shares of Equity LifeStyle Properties by 43.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 564 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 171 shares during the period. Carmel Capital Partners LLC grew its holdings in Equity LifeStyle Properties by 3.6% in the 4th quarter. Carmel Capital Partners LLC now owns 6,533 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 230 shares in the last quarter. Corient Private Wealth LLC increased its position in Equity LifeStyle Properties by 1.0% during the 4th quarter. Corient Private Wealth LLC now owns 22,861 shares of the real estate investment trust’s stock worth $1,523,000 after buying an additional 230 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Equity LifeStyle Properties by 2.1% during the fourth quarter. HighTower Advisors LLC now owns 11,446 shares of the real estate investment trust’s stock worth $762,000 after buying an additional 238 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its stake in shares of Equity LifeStyle Properties by 7.2% in the fourth quarter. iA Global Asset Management Inc. now owns 3,800 shares of the real estate investment trust’s stock valued at $253,000 after acquiring an additional 256 shares in the last quarter. 97.21% of the stock is owned by institutional investors and hedge funds.

Equity LifeStyle Properties Stock Down 1.5 %

Shares of NYSE:ELS opened at $66.85 on Wednesday. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $76.60. The company has a market capitalization of $12.78 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.03 and a current ratio of 0.02. The company has a fifty day moving average of $66.93 and a 200-day moving average of $68.71.

Equity LifeStyle Properties (NYSE:ELS) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. Equity LifeStyle Properties had a return on equity of 23.12% and a net margin of 24.05%. On average, equities analysts predict that Equity LifeStyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity LifeStyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, March 28th. This is an increase from Equity LifeStyle Properties’s previous quarterly dividend of $0.48. This represents a $2.06 annualized dividend and a yield of 3.08%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 105.64%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ELS shares. Royal Bank of Canada cut their price objective on shares of Equity LifeStyle Properties from $69.00 to $68.00 and set a “sector perform” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group raised shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and upped their price objective for the stock from $72.00 to $80.00 in a research report on Thursday, January 2nd. Robert W. Baird increased their price target on shares of Equity LifeStyle Properties from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Equity LifeStyle Properties from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $73.00 in a research report on Tuesday, January 21st. Finally, Truist Financial raised Equity LifeStyle Properties from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.78.

Equity LifeStyle Properties Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.