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

Equity LifeStyle Properties, Inc. (NYSE:ELS) was the recipient of a large growth in short interest in 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. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 2.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Equity LifeStyle Properties

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vert Asset Management LLC raised its holdings in Equity LifeStyle Properties by 8.1% during the first quarter. Vert Asset Management LLC now owns 72,490 shares of the real estate investment trust’s stock valued at $4,668,000 after acquiring an additional 5,450 shares during the period. Aurora Investment Managers LLC. raised its holdings in Equity LifeStyle Properties by 73.2% during the first quarter. Aurora Investment Managers LLC. now owns 30,892 shares of the real estate investment trust’s stock valued at $1,989,000 after acquiring an additional 13,054 shares during the period. Rise Advisors LLC bought a new stake in Equity LifeStyle Properties during the first quarter valued at about $27,000. Mather Group LLC. bought a new stake in Equity LifeStyle Properties during the first quarter valued at about $25,000. Finally, Kapitalo Investimentos Ltda raised its holdings in Equity LifeStyle Properties by 278.1% during the fourth quarter. Kapitalo Investimentos Ltda now owns 6,133 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 4,511 shares during the period. 97.21% of the stock is owned by institutional investors.

Equity LifeStyle Properties Price Performance

NYSE:ELS traded down $0.28 on Tuesday, reaching $61.08. 1,565,185 shares of the company’s stock traded hands, compared to its average volume of 1,241,346. 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 stock has a 50-day simple moving average of $65.19 and a 200-day simple moving average of $67.19. The firm has a market cap of $11.39 billion, a PE ratio of 36.35, a P/E/G ratio of 3.63 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.

Equity LifeStyle Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.477 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Equity LifeStyle Properties’s previous quarterly dividend of $0.45. This represents a $1.91 dividend on an annualized basis and a yield of 3.12%. Equity LifeStyle Properties’s dividend payout ratio (DPR) is currently 113.69%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. 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. Truist Financial lowered their price target on Equity LifeStyle Properties from $73.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft assumed coverage on Equity LifeStyle Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $64.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of Equity LifeStyle Properties in a report on Wednesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.