What's Going On With Equity Lifestyle Properties Stock Today?

Equity Lifestyle Properties Inc ELS shares are trading higher Thursday after it was announced the company is set to join the S&P MidCap 400.

What Happened: Equity Lifestyle will replace Life Storage Inc LSI in the S&P MidCap 400 prior to the open on July 24. 

Life Storage is set to be acquired by Extra Space Storage Inc EXR this week. The deal is expected to be completed on Thursday. 

Equity Lifestyle Properties is a residential REIT that focuses on owning manufactured housing, residential vehicle communities and marinas.

See Also: Travelers Significantly Misses Q2 Core EPS, Reports $1.5B Catastrophe Losses

ELS Price Action: Equity Lifestyle has a 52-week high of $77.34 and a 52-week low of $57.01.

The stock was up 5.18% at $70.45 at the time of writing, according to Benzinga Pro.

Photo: Pexels from Pixabay.