Equity Lifestyle Properties Inc (NYSE: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 (NYSE: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 (NYSE: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.
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