Franklin Resources Inc. Sells 57,769 Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Franklin Resources Inc. lessened its holdings in shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,681 shares of the real estate investment trust’s stock after selling 57,769 shares during the period. Franklin Resources Inc. owned approximately 0.44% of Equity LifeStyle Properties worth $58,173,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Equity LifeStyle Properties during the 4th quarter valued at about $35,000. Headlands Technologies LLC lifted its stake in Equity LifeStyle Properties by 143.8% in the 4th 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. Lindbrook Capital LLC lifted its stake in Equity LifeStyle Properties by 40.5% in the 4th 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. GAMMA Investing LLC bought a new stake in Equity LifeStyle Properties in the 4th quarter valued at approximately $44,000. Finally, Anchor Investment Management LLC bought a new stake in Equity LifeStyle Properties in the 4th quarter valued at approximately $47,000. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Performance

NYSE ELS traded down $0.45 on Friday, reaching $61.85. The stock had a trading volume of 604,024 shares, compared to its average volume of 1,267,384. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a fifty day moving average of $62.94 and a two-hundred day moving average of $66.66. Equity LifeStyle Properties, Inc. has a 1-year low of $59.82 and a 1-year high of $74.04. The company has a market cap of $11.54 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70.

Equity LifeStyle Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio is 104.37%.

Analyst Ratings Changes

Several research firms have commented on ELS. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Friday, February 9th. Truist Financial cut their target price on 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Barclays lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price target on the stock. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.