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

Equity Lifestyle Properties, Inc. (NYSE:ELS) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 6,108,287 shares, a decline of 26.6% from the February 26th total of 8,318,873 shares. Based on an average daily volume of 1,731,499 shares, the short-interest ratio is currently 3.5 days. Currently, 3.2% of the shares of the company are sold short.

Equity Lifestyle Properties Stock Performance

Shares of ELS stock traded up $0.43 during trading hours on Monday, reaching $62.54. 1,379,111 shares of the company traded hands, compared to its average volume of 1,578,946. The firm has a 50-day moving average price of $65.74 and a 200 day moving average price of $63.01. The company has a market cap of $12.13 billion, a P/E ratio of 31.12, a P/E/G ratio of 3.45 and a beta of 0.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.04 and a quick ratio of 0.04. Equity Lifestyle Properties has a 12-month low of $58.15 and a 12-month high of $69.15.

Equity Lifestyle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be paid a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, March 27th. Equity Lifestyle Properties’s dividend payout ratio is currently 107.96%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ELS shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Equity Lifestyle Properties in a research note on Thursday, January 22nd. Zacks Research upgraded Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Equity Lifestyle Properties in a report on Friday, January 30th. Wells Fargo & Company reiterated an “equal weight” rating and set a $70.00 price objective (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Friday, February 27th. Finally, Zelman & Associates assumed coverage on Equity Lifestyle Properties in a report on Monday, March 16th. They issued an “underperform” rating and a $59.25 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Equity Lifestyle Properties currently has a consensus rating of “Hold” and a consensus target price of $69.63.

Insider Buying and Selling at Equity Lifestyle Properties

In related news, Director David J. Contis sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total transaction of $201,660.00. Following the transaction, the director owned 14,890 shares in the company, valued at $1,000,905.80. This represents a 16.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by insiders.

Institutional Trading of Equity Lifestyle Properties

Several institutional investors and hedge funds have recently modified their holdings of ELS. Wiser Advisor Group LLC bought a new position in Equity Lifestyle Properties in the 3rd quarter worth $25,000. GoalVest Advisory LLC bought a new stake in Equity Lifestyle Properties during the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Equity Lifestyle Properties by 943.8% in the third quarter. Caitong International Asset Management Co. Ltd now owns 501 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 453 shares in the last quarter. Clearstead Trust LLC boosted its stake in shares of Equity Lifestyle Properties by 74.8% in the fourth quarter. Clearstead Trust LLC now owns 540 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 231 shares during the period. Finally, Fulcrum Asset Management LLP bought a new position in shares of Equity Lifestyle Properties in the third quarter worth about $34,000. 97.21% of the stock is currently owned by institutional investors.

About Equity Lifestyle Properties

Equity Lifestyle Properties, Inc (NYSE: ELS) is a publicly traded real estate investment trust specializing in the acquisition, development, ownership and operation of manufactured home communities and recreational vehicle resorts. The company’s portfolio includes more than 450 properties across the United States and Canada, serving over 200,000 residents and visitors. ELS organizes its operations into two primary segments: manufactured housing communities, which provide long-term housing solutions, and upscale RV and seasonal resorts designed for leisure travelers and seasonal patrons.

In its manufactured home division, ELS offers home-site leases combined with community amenities such as landscaped common areas, clubhouses, swimming pools and organized resident events.