Shares of Equity Lifestyle Properties Inc. (NYSE:ELS) traded at a new 52-week high today of $77.24. This new high was reached on below average trading volume as 129,000 shares traded hands, while the average 30-day volume is approximately 904,000 shares.
Equity Lifestyle Properties Inc. (NYSE:ELS) is currently priced 1.4% above its average consensus analyst price target of $75.88.
Equity Lifestyle Properties Inc is a real estate investment trust primarily engaged in the ownership and operation of manufactured home communities and recreational vehicle (RV) campgrounds throughout the US. The vast majority of the company’s real estate portfolio is comprised of sites located near bodies of water in Florida, the Northeastern region of the US, Arizona, and California. Equity Lifestyle derives nearly all of its income in the form of rental revenue from its properties. This income is pretty evenly split between its community sites and resort sites in the Florida, Northeastern US, Arizona, and California markets. Equity Lifestyle’s site offerings mainly attract retirees, vacationing families, and second homeowners who lease on an annual basis.
Over the past year, Equity Lifestyle Properties Inc. has traded in a range of $57.93 to $77.24 and is now at $76.99, 33% above that low.
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