Short Interest in Equity LifeStyle Properties, Inc. (NYSE:ELS) Grows By 7.9%

Equity LifeStyle Properties, Inc. (NYSE:ELS) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 3,290,000 shares, a growth of 7.9% from the May 31st total of 3,050,000 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,280,000 shares, the short-interest ratio is presently 2.6 days.

Institutional Investors Weigh In On Equity LifeStyle Properties

A number of institutional investors and hedge funds have recently made changes to their positions in ELS. Wellington Management Group LLP increased its stake in Equity LifeStyle Properties by 0.3% in the fourth quarter. Wellington Management Group LLP now owns 59,874 shares of the real estate investment trust’s stock valued at $4,224,000 after acquiring an additional 155 shares during the last quarter. Donoghue Forlines LLC raised its holdings in shares of Equity LifeStyle Properties by 2.3% during the 4th quarter. Donoghue Forlines LLC now owns 7,195 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 160 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in Equity LifeStyle Properties by 4.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,920 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 177 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Equity LifeStyle Properties by 40.5% in the fourth quarter. Lindbrook Capital LLC now owns 631 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 182 shares in the last quarter. Finally, Naviter Wealth LLC grew its position in Equity LifeStyle Properties by 1.6% during the first quarter. Naviter Wealth LLC now owns 12,404 shares of the real estate investment trust’s stock valued at $805,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ELS. Barclays cut their target price on shares of 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. Truist Financial decreased their price target on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $68.85.

Equity LifeStyle Properties Stock Down 0.6 %

Equity LifeStyle Properties stock traded down $0.36 during midday trading on Wednesday, reaching $63.61. The stock had a trading volume of 562,655 shares, compared to its average volume of 1,243,052. The company has a fifty day moving average price of $62.91 and a two-hundred day moving average price of $65.34. The company has a market capitalization of $11.86 billion, a P/E ratio of 34.76, a PEG ratio of 3.74 and a beta of 0.77. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.33. Equity LifeStyle Properties has a 12 month low of $59.82 and a 12 month high of $74.04.

Equity LifeStyle Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.477 dividend. This represents a $1.91 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Friday, June 28th. Equity LifeStyle Properties’s payout ratio is currently 104.37%.

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.