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

Equity LifeStyle Properties, Inc. (NYSE:ELS) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 3,290,000 shares, a decline of 6.5% from the April 15th total of 3,520,000 shares. Based on an average daily volume of 1,300,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.9% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELS. 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 note on Wednesday, January 31st. Barclays lowered their price objective on 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 reduced their target price on Equity LifeStyle Properties from $72.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Wolfe Research raised Equity LifeStyle Properties from a “peer perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Equity LifeStyle Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 target price for the company. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $68.85.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Equity LifeStyle Properties by 1.0% during the first quarter. Vanguard Group Inc. now owns 25,069,389 shares of the real estate investment trust’s stock worth $1,614,469,000 after acquiring an additional 240,853 shares during the last quarter. Aristotle Capital Management LLC boosted its holdings in shares of Equity LifeStyle Properties by 17.1% during the 3rd 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 last quarter. Chai Trust Co. LLC grew its position in shares of Equity LifeStyle Properties by 1.1% during the third quarter. Chai Trust Co. LLC now owns 9,055,685 shares of the real estate investment trust’s stock valued at $576,938,000 after purchasing an additional 102,696 shares in the last quarter. Norges Bank bought a new stake in shares of Equity LifeStyle Properties in the fourth quarter worth about $455,623,000. Finally, Victory Capital Management Inc. lifted its position in shares of Equity LifeStyle Properties by 0.8% in the third quarter. Victory Capital Management Inc. now owns 5,770,822 shares of the real estate investment trust’s stock worth $367,659,000 after buying an additional 46,943 shares in the last quarter. 97.21% of the stock is owned by hedge funds and other institutional investors.

Equity LifeStyle Properties Stock Performance

Shares of NYSE:ELS traded up $1.21 during trading on Friday, hitting $64.68. The company’s stock had a trading volume of 1,409,597 shares, compared to its average volume of 1,343,398. Equity LifeStyle Properties has a 12 month low of $59.82 and a 12 month high of $74.04. The company has a 50-day moving average of $63.22 and a 200-day moving average of $66.77. The firm has a market cap of $12.06 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 3.73 and a beta of 0.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.03 and a quick ratio of 0.03.

Equity LifeStyle Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Friday, June 28th. Equity LifeStyle Properties’s payout ratio is 104.37%.

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.