Teacher Retirement System of Texas Sells Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS)

Teacher Retirement System of Texas Decreases Holdings in Equity LifeStyle Properties, Inc.

In a recent filing with the Securities & Exchange Commission, the Teacher Retirement System of Texas revealed that it has decreased its holdings in Equity LifeStyle Properties, Inc. by 53.0% in the 4th quarter. The institutional investor now owns 32,119 shares of the real estate investment trust’s stock, down from 68,409 shares previously held. The value of the holdings is estimated to be $2,266,000 as of the most recent filing.

This move by the Teacher Retirement System of Texas is part of a larger trend among hedge funds and institutional investors who have been modifying their holdings in Equity LifeStyle Properties. Commonwealth Equity Services LLC increased its position in the company by 5.1% in the 3rd quarter, while Park Avenue Securities LLC acquired a new stake in the company during the same period. Fifth Third Bancorp and New Mexico Educational Retirement Board also boosted their positions in Equity LifeStyle Properties in the 3rd quarter.

Overall, 97.21% of the stock is currently owned by institutional investors and hedge funds, indicating a strong interest in the company within the investment community.

Equity LifeStyle Properties stock opened at $63.48 on Friday, with a market capitalization of $11.84 billion. The company has a quick ratio of 0.03, a current ratio of 0.03, and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $63.26, and its 200-day simple moving average is $66.78. The stock has a 52-week low of $59.82 and a 52-week high of $74.04, with a PE ratio of 34.69 and a beta of 0.70.

In addition to the changes in holdings, Equity LifeStyle Properties recently announced a quarterly dividend, which will be paid on July 12th. Stockholders of record on June 28th will receive a $0.477 dividend, representing a $1.91 annualized dividend and a dividend yield of 3.01%. The company’s dividend payout ratio is currently 104.37%.

Analysts have been closely monitoring Equity LifeStyle Properties, with several research reports being issued recently. Deutsche Bank Aktiengesellschaft initiated coverage on the company with a “hold” rating and a $64.00 target price. Truist Financial and Barclays both dropped their price targets on the stock, while Wolfe Research upgraded their rating to “outperform.” Overall, seven investment analysts have rated the stock as a hold, while two have assigned a buy rating.

Equity LifeStyle Properties, Inc. is a self-administered, self-managed real estate investment trust with headquarters in Chicago. The company owns or has an interest in 451 properties in 35 states and British Columbia, totaling 172,465 sites.

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