Equity LifeStyle Properties Stake Cut by Quadrature Capital Ltd

Quadrature Capital Ltd Reduces Stake in Equity LifeStyle Properties, Inc.

In a recent disclosure with the Securities and Exchange Commission (SEC), Quadrature Capital Ltd revealed that it has cut its stake in Equity LifeStyle Properties, Inc. (NYSE:ELS) by 29.5% in the 4th quarter. The institutional investor now owns 11,140 shares of the real estate investment trust’s stock, down from 15,799 shares previously held.

Other institutional investors and hedge funds have also made changes to their holdings of ELS. PNC Financial Services Group Inc. increased its holdings by 18.0% during the third quarter, while QRG Capital Management Inc. and Envestnet Portfolio Solutions Inc. bought new positions in the company. Envestnet Asset Management Inc. also boosted its position in ELS by 40.2% during the third quarter.

The news of Quadrature Capital Ltd reducing its stake in ELS comes as the stock price of Equity LifeStyle Properties has seen a 1.8% increase. The company’s stock opened at $64.34 on Friday, with a 50-day moving average of $62.49 and a 200-day moving average of $65.77.

Equity LifeStyle Properties also recently announced a quarterly dividend, which will be paid on July 12th. Investors of record on June 28th will receive a $0.477 dividend, representing a 2.97% yield. The company’s dividend payout ratio is currently 104.37%.

Analysts have been closely monitoring ELS, with several recent reports providing insights into the stock. Barclays and Truist Financial both dropped their price targets on Equity LifeStyle Properties, with Barclays setting an “overweight” rating and Truist Financial setting a “hold” rating on the stock. Overall, Equity LifeStyle Properties has a consensus rating of “Hold” and a consensus price target of $68.85.

As of January 29, 2024, Equity LifeStyle Properties owns or has an interest in 451 properties in 35 states and British Columbia, consisting of 172,465 sites. Investors can stay updated on the latest news and analyst ratings for ELS by visiting HoldingsChannel.com.

Overall, the news of Quadrature Capital Ltd reducing its stake in Equity LifeStyle Properties, Inc. and the recent stock price increase make ELS an interesting stock to watch in the real estate investment trust sector.