Equity LifeStyle Properties, Inc. (NYSE:ELS) Short Interest Up 7.1% in March

Equity LifeStyle Properties, Inc. (NYSE:ELSGet Free Report) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 3,470,000 shares, a growth of 7.1% from the February 29th total of 3,240,000 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is presently 3.1 days.

Equity LifeStyle Properties Trading Down 0.3 %

ELS traded down $0.18 on Wednesday, hitting $62.98. The company had a trading volume of 272,571 shares, compared to its average volume of 1,172,627. The company has a market cap of $11.75 billion, a PE ratio of 37.26, a PEG ratio of 3.77 and a beta of 0.69. Equity LifeStyle Properties has a 12-month low of $60.47 and a 12-month high of $74.04. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.35. The business’s fifty day simple moving average is $66.18 and its 200 day simple moving average is $67.43.

Equity LifeStyle Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be given a $0.477 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.91 annualized dividend and a yield of 3.03%. This is a positive change from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 113.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELS. Norges Bank purchased a new position in shares of Equity LifeStyle Properties during the fourth quarter valued at approximately $455,623,000. Chai Trust Co. LLC boosted its holdings in shares of Equity LifeStyle Properties by 158.9% in the second quarter. Chai Trust Co. LLC now owns 8,952,989 shares of the real estate investment trust’s stock valued at $598,865,000 after purchasing an additional 5,495,164 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Equity LifeStyle Properties by 30.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,735,330 shares of the real estate investment trust’s stock valued at $499,702,000 after purchasing an additional 1,798,649 shares during the period. Aristotle Capital Management LLC boosted its holdings in shares of Equity LifeStyle Properties by 17.1% in the third quarter. Aristotle Capital Management LLC now owns 11,536,605 shares of the real estate investment trust’s stock valued at $734,997,000 after purchasing an additional 1,681,198 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Equity LifeStyle Properties by 147.1% in the first quarter. Invesco Ltd. now owns 2,541,777 shares of the real estate investment trust’s stock valued at $194,396,000 after purchasing an additional 1,512,944 shares during the period. Hedge funds and other institutional investors own 97.21% of the company’s stock.

Analyst Ratings Changes

ELS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target for the company. Truist Financial cut their price target on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Finally, 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. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $70.15.

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Equity LifeStyle Properties Company Profile

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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.

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