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

Equity LifeStyle Properties, Inc. (NYSE:ELS) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,970,000 shares, a growth 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 days-to-cover ratio is presently 3.2 days.

Equity LifeStyle Properties Trading Down 0.5 %

Equity LifeStyle Properties stock traded down $0.28 during mid-day trading on Tuesday, hitting $61.08. The company’s stock had a trading volume of 1,565,185 shares, compared to its average volume of 1,241,346. The firm has a market capitalization of $11.39 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 3.63 and a beta of 0.69. Equity LifeStyle Properties has a 1 year low of $60.47 and a 1 year high of $74.04. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $65.19 and its two-hundred day moving average is $67.19.

Equity LifeStyle Properties Increases Dividend

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

Analyst Upgrades and Downgrades

ELS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and issued 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 target for the company in a research report on Friday, February 9th. Finally, Truist Financial dropped their price target on 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. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.15.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new position in Equity LifeStyle Properties during the first quarter worth $25,000. Rise Advisors LLC acquired a new position in Equity LifeStyle Properties during the first quarter worth $27,000. Eagle Bay Advisors LLC acquired a new position in Equity LifeStyle Properties during the second quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Equity LifeStyle Properties during the fourth quarter worth $35,000. Finally, Headlands Technologies LLC lifted its stake in Equity LifeStyle Properties by 143.8% during the fourth quarter. Headlands Technologies LLC now owns 624 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 368 shares in the last quarter. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

About Equity LifeStyle Properties

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.