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

Equity LifeStyle Properties, Inc. (NYSE:ELS) was the recipient of 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. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is presently 2.6 days. Currently, 1.9% of the shares of the stock are sold short.

Institutional Trading of Equity LifeStyle Properties

Hedge funds have recently modified their holdings of the stock. Retirement Systems of Alabama increased its position in Equity LifeStyle Properties by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 233,448 shares of the real estate investment trust’s stock worth $16,467,000 after purchasing an additional 863 shares during the period. Cim LLC bought a new stake in shares of Equity LifeStyle Properties during the fourth quarter worth approximately $2,586,000. Cornercap Investment Counsel Inc. acquired a new position in Equity LifeStyle Properties in the fourth quarter valued at approximately $956,000. Arizona State Retirement System boosted its stake in Equity LifeStyle Properties by 0.8% in the fourth quarter. Arizona State Retirement System now owns 48,637 shares of the real estate investment trust’s stock valued at $3,431,000 after acquiring an additional 375 shares during the last quarter. Finally, Farrow Financial Inc. acquired a new stake in Equity LifeStyle Properties during the 4th quarter worth $1,467,000. 97.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on ELS shares. Barclays cut their target price on Equity LifeStyle Properties from $78.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Truist Financial cut their price objective 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. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Equity LifeStyle Properties has a consensus rating of “Hold” and a consensus target price of $68.85.

Equity LifeStyle Properties Price Performance

Shares of NYSE:ELS traded down $0.36 during midday trading on Wednesday, reaching $63.61. The company’s stock had a trading volume of 562,655 shares, compared to its average volume of 1,243,052. The business’s fifty day simple moving average is $62.91 and its 200-day simple moving average is $65.34. The company has a market capitalization of $11.86 billion, a P/E ratio of 34.76, a P/E/G ratio of 3.74 and a beta of 0.77. 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 has a fifty-two week low of $59.82 and a fifty-two week high of $74.04.

Equity LifeStyle Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.477 dividend. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, June 28th. Equity LifeStyle Properties’s dividend payout ratio is presently 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.