Equity LifeStyle Properties, Inc. (NYSE:ELS) Short Interest Update

Equity LifeStyle Properties, Inc. (NYSE:ELS) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 3,970,000 shares, an increase of 14.4% from the March 15th total of 3,470,000 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average trading volume of 1,250,000 shares, the short-interest ratio is currently 3.2 days.

Institutional Trading of Equity LifeStyle Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Equity LifeStyle Properties by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 24,909,450 shares of the real estate investment trust’s stock worth $1,586,981,000 after acquiring an additional 472,855 shares during the period. BlackRock Inc. grew its stake in Equity LifeStyle Properties by 1.7% in the 1st quarter. BlackRock Inc. now owns 15,004,695 shares of the real estate investment trust’s stock worth $1,007,265,000 after acquiring an additional 251,778 shares during the period. Aristotle Capital Management LLC grew its stake in Equity LifeStyle Properties by 17.1% in the 3rd quarter. Aristotle Capital Management LLC now owns 11,536,605 shares of the real estate investment trust’s stock worth $734,997,000 after acquiring an additional 1,681,198 shares during the period. Chai Trust Co. LLC grew its stake in Equity LifeStyle Properties by 1.1% in the 3rd quarter. Chai Trust Co. LLC now owns 9,055,685 shares of the real estate investment trust’s stock worth $576,938,000 after acquiring an additional 102,696 shares during the period. Finally, State Street Corp grew its stake in Equity LifeStyle Properties by 13.0% in the 1st quarter. State Street Corp now owns 8,817,442 shares of the real estate investment trust’s stock worth $677,864,000 after acquiring an additional 1,016,542 shares during the period. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Price Performance

Shares of Equity LifeStyle Properties stock traded down $0.28 during trading on Tuesday, hitting $61.08. 1,565,185 shares of the company were exchanged, compared to its average volume of 1,241,346. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 36.35, a P/E/G ratio of 3.63 and a beta of 0.69. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. Equity LifeStyle Properties has a fifty-two week low of $60.47 and a fifty-two week high of $74.04. The firm has a 50 day moving average price of $65.19 and a 200 day moving average price of $67.19.

Equity LifeStyle Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were paid a $0.477 dividend. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, March 27th. Equity LifeStyle Properties’s payout ratio is presently 113.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ELS shares. Truist Financial reduced their price target on shares of Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada reiterated 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. Wolfe Research upgraded Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Friday, February 9th. 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 objective for the company. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $70.15.

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.