Short Interest in Equity LifeStyle Properties, Inc. (NYSE:ELS) Expands By 14.4%

Equity LifeStyle Properties, Inc. (NYSE:ELS) was the target of a significant 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. Based on an average trading volume of 1,250,000 shares, the short-interest ratio is presently 3.2 days. Currently, 2.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Equity LifeStyle Properties by 1.9% during 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 purchasing an additional 472,855 shares during the last quarter. BlackRock Inc. raised its holdings 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 valued at $1,007,265,000 after acquiring an additional 251,778 shares during the last quarter. Aristotle Capital Management LLC raised its holdings 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 valued at $734,997,000 after acquiring an additional 1,681,198 shares during the last quarter. Chai Trust Co. LLC raised its holdings 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 valued at $576,938,000 after acquiring an additional 102,696 shares during the last quarter. Finally, State Street Corp raised its holdings 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 valued at $677,864,000 after acquiring an additional 1,016,542 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Equity LifeStyle Properties Price Performance

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

Equity LifeStyle Properties Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of Equity LifeStyle Properties in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Equity LifeStyle Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $64.00 price objective for the company. Truist Financial decreased their price objective 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. Finally, Wolfe Research upgraded shares of 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 analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Equity LifeStyle Properties presently has an average rating of “Hold” and an average price target 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.