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

Equity Lifestyle Properties, Inc. (NYSE:ELS) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 6,108,287 shares, a decrease of 26.6% from the February 26th total of 8,318,873 shares. Based on an average trading 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 short sold.

Equity Lifestyle Properties Stock Up 0.7%

Shares of NYSE ELS opened at $62.54 on Tuesday. The stock has a market capitalization of $12.13 billion, a P/E ratio of 31.12, a PEG ratio of 3.45 and a beta of 0.75. The stock’s fifty day moving average is $65.74 and its 200 day moving average is $63.01. Equity Lifestyle Properties has a 52 week low of $58.15 and a 52 week high of $69.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.04 and a current ratio of 0.04.

Equity Lifestyle Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be issued a $0.5425 dividend. The ex-dividend date of this dividend is Friday, March 27th. 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. Equity Lifestyle Properties’s dividend payout ratio (DPR) is 107.96%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ELS shares. Zelman & Associates started coverage on shares of Equity Lifestyle Properties in a report on Monday, March 16th. They set an “underperform” rating and a $59.25 target price for the company. UBS Group set a $67.00 price target on shares of Equity Lifestyle Properties and gave the company a “buy” rating in a report on Thursday, January 8th. Zacks Research upgraded shares of Equity Lifestyle Properties from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $70.00 price objective on shares of Equity Lifestyle Properties in a report on Friday, January 30th. Finally, Barclays reaffirmed an “overweight” rating and issued a $71.00 target price (up from $68.00) on shares of Equity Lifestyle Properties in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.63.

Insider Transactions at Equity Lifestyle Properties

In other Equity Lifestyle Properties news, Director David J. Contis sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $67.22, for a total value of $201,660.00. Following the transaction, the director directly owned 14,890 shares in the company, valued at $1,000,905.80. The trade was a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equity Lifestyle Properties

Several hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in Equity Lifestyle Properties by 303.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,948,613 shares of the real estate investment trust’s stock valued at $966,648,000 after buying an additional 11,999,874 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Equity Lifestyle Properties by 114.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,375,154 shares of the real estate investment trust’s stock worth $326,272,000 after buying an additional 2,868,678 shares in the last quarter. Norges Bank acquired a new position in shares of Equity Lifestyle Properties during the second quarter worth $164,862,000. Daiwa Securities Group Inc. lifted its stake in shares of Equity Lifestyle Properties by 253.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,147,048 shares of the real estate investment trust’s stock valued at $191,025,000 after acquiring an additional 2,257,299 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its stake in shares of Equity Lifestyle Properties by 26.8% in the 4th quarter. Cohen & Steers Inc. now owns 10,614,040 shares of the real estate investment trust’s stock valued at $643,331,000 after acquiring an additional 2,246,622 shares during the last quarter. Institutional investors own 97.21% of the company’s stock.

Equity Lifestyle Properties Company Profile

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.