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

Equity LifeStyle Properties, Inc. (NYSE:ELS) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 3,990,000 shares, a drop of 10.9% from the November 30th total of 4,480,000 shares. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is presently 3.1 days.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELS. Truist Financial lifted their price target on shares of Equity LifeStyle Properties from $70.00 to $71.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Robert W. Baird boosted their price target on shares of Equity LifeStyle Properties from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Compass Point raised their price objective on shares of Equity LifeStyle Properties from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. UBS Group raised Equity LifeStyle Properties to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group initiated coverage on Equity LifeStyle Properties in a research report on Thursday, October 17th. They issued a “hold” rating and a $72.00 target price for the company. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Equity LifeStyle Properties has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

Institutional Investors Weigh In On Equity LifeStyle Properties

Several institutional investors and hedge funds have recently made changes to their positions in ELS. Townsquare Capital LLC lifted its position in Equity LifeStyle Properties by 23.7% in the 3rd quarter. Townsquare Capital LLC now owns 12,835 shares of the real estate investment trust’s stock valued at $916,000 after acquiring an additional 2,458 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Equity LifeStyle Properties by 0.9% in the third quarter. Victory Capital Management Inc. now owns 4,649,670 shares of the real estate investment trust’s stock worth $331,707,000 after purchasing an additional 39,864 shares during the last quarter. Citigroup Inc. raised its stake in shares of Equity LifeStyle Properties by 16.7% in the third quarter. Citigroup Inc. now owns 213,209 shares of the real estate investment trust’s stock worth $15,210,000 after purchasing an additional 30,489 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Equity LifeStyle Properties by 95.3% during the third quarter. Sanctuary Advisors LLC now owns 32,578 shares of the real estate investment trust’s stock valued at $2,311,000 after purchasing an additional 15,899 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Equity LifeStyle Properties by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,950 shares of the real estate investment trust’s stock valued at $2,211,000 after buying an additional 12,826 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Equity LifeStyle Properties Stock Down 0.8 %

Shares of Equity LifeStyle Properties stock traded down $0.54 during midday trading on Monday, hitting $66.06. The company had a trading volume of 826,641 shares, compared to its average volume of 1,209,756. The company has a 50 day moving average of $69.61 and a 200 day moving average of $69.27. The stock has a market capitalization of $12.62 billion, a P/E ratio of 34.05, a P/E/G ratio of 3.61 and a beta of 0.77. Equity LifeStyle Properties has a 52-week low of $59.82 and a 52-week high of $76.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.03 and a current ratio of 0.03.

Equity LifeStyle Properties (NYSE:ELS) last released its earnings results on Monday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.28). The company had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $315.78 million. Equity LifeStyle Properties had a return on equity of 24.10% and a net margin of 23.97%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. On average, equities analysts predict that Equity LifeStyle Properties will post 2.92 earnings per share for the current fiscal year.

Equity LifeStyle Properties Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.477 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.91 annualized dividend and a dividend yield of 2.89%. Equity LifeStyle Properties’s dividend payout ratio is presently 98.45%.

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.