Equity Lifestyle Properties, Inc. (NYSE:ELS) Short Interest Down 10.5% in July

Equity Lifestyle Properties, Inc. (NYSE:ELS) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 826,800 shares, a drop of 10.5% from the June 30th total of 923,700 shares. Based on an average daily volume of 601,700 shares, the short-interest ratio is currently 1.4 days. Approximately 1.0% of the company’s stock are short sold.

Shares of ELS stock traded up $0.76 during midday trading on Friday, reaching $134.98. 276,400 shares of the company were exchanged, compared to its average volume of 466,029. Equity Lifestyle Properties has a 12 month low of $90.90 and a 12 month high of $135.63. The company has a market cap of $12.07 billion, a P/E ratio of 34.88, a PEG ratio of 4.43 and a beta of 0.26. The company’s 50 day moving average price is $125.72 and its two-hundred day moving average price is $117.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.06 and a current ratio of 0.06.

Equity Lifestyle Properties (NYSE:ELS) last posted its earnings results on Monday, July 22nd. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.02. The firm had revenue of $248.37 million during the quarter, compared to analysts’ expectations of $244.91 million. Equity Lifestyle Properties had a net margin of 27.02% and a return on equity of 22.00%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, sell-side analysts predict that Equity Lifestyle Properties will post 4.2 earnings per share for the current year.



The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.613 dividend. This represents a $2.45 dividend on an annualized basis and a dividend yield of 1.82%. This is a boost from Equity Lifestyle Properties’s previous quarterly dividend of $0.61. The ex-dividend date is Thursday, September 26th. Equity Lifestyle Properties’s payout ratio is presently 63.31%.

Several research analysts have weighed in on ELS shares. BMO Capital Markets reissued a “hold” rating and set a $120.00 price objective on shares of Equity Lifestyle Properties in a report on Wednesday, April 24th. Zacks Investment Research upgraded shares of Equity Lifestyle Properties from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $112.25.

In related news, CFO Paul Seavey sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $124.80, for a total transaction of $873,600.00. Following the completion of the sale, the chief financial officer now directly owns 71,571 shares of the company’s stock, valued at approximately $8,932,060.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Roger Maynard sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president now directly owns 130,645 shares of the company’s stock, valued at $16,330,625. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of ELS. Nuveen Asset Management LLC lifted its stake in shares of Equity Lifestyle Properties by 533.0% in the second quarter. Nuveen Asset Management LLC now owns 2,143,599 shares of the real estate investment trust’s stock worth $260,104,000 after buying an additional 1,804,951 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Equity Lifestyle Properties by 12.7% in the first quarter. BlackRock Inc. now owns 8,080,389 shares of the real estate investment trust’s stock worth $923,589,000 after buying an additional 912,522 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Equity Lifestyle Properties by 2,546.6% in the first quarter. Bank of Montreal Can now owns 718,319 shares of the real estate investment trust’s stock worth $82,104,000 after buying an additional 691,178 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Equity Lifestyle Properties by 599.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 401,483 shares of the real estate investment trust’s stock worth $48,716,000 after buying an additional 344,108 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Equity Lifestyle Properties by 14.4% in the second quarter. Invesco Ltd. now owns 2,048,151 shares of the real estate investment trust’s stock worth $248,523,000 after buying an additional 258,030 shares during the last quarter. Institutional investors and hedge funds own 93.38% of the company’s stock.

About Equity Lifestyle Properties

We are a self-administered, self-managed real estate investment trust (“REIT”) with headquarters in Chicago. As of January 28, 2019, we own or have an interest in 409 quality properties in 33 states and British Columbia consisting of 153,984 sites.

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