Allspring Global Investments Holdings LLC Trims Stock Holdings in Equity LifeStyle Properties, Inc. (NYSE:ELS)

Allspring Global Investments Holdings LLC trimmed its position in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 23.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,940 shares of the real estate investment trust’s stock after selling 604 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Equity LifeStyle Properties were worth $125,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Mather Group LLC. bought a new position in shares of Equity LifeStyle Properties during the first quarter valued at $25,000. Rise Advisors LLC bought a new position in shares of Equity LifeStyle Properties during the first quarter valued at $27,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at $35,000. Headlands Technologies LLC increased its holdings in shares of Equity LifeStyle Properties by 143.8% during the fourth quarter. Headlands Technologies LLC now owns 624 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 368 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at $44,000. 97.21% of the stock is owned by institutional investors.

Equity LifeStyle Properties Trading Up 2.5 %

Shares of NYSE:ELS opened at $66.17 on Friday. The stock has a market capitalization of $12.34 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 3.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.03 and a current ratio of 0.03. The stock’s 50-day simple moving average is $63.31 and its two-hundred day simple moving average is $65.09. Equity LifeStyle Properties, Inc. has a 52-week low of $59.82 and a 52-week high of $74.04.

Equity LifeStyle Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.477 dividend. This represents a $1.91 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 104.37%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial reduced their price target on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Barclays dropped their price objective on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.85.

About Equity LifeStyle Properties

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.