diff --git a/moto/ec2/models.py b/moto/ec2/models.py
index 35c7bd87..c18f8b39 100755
--- a/moto/ec2/models.py
+++ b/moto/ec2/models.py
@@ -2836,7 +2836,7 @@ class ElasticAddress(object):
 
     @property
     def physical_resource_id(self):
-        return self.allocation_id if self.allocation_id else self.public_ip
+        return self.public_ip
 
     def get_cfn_attribute(self, attribute_name):
         from moto.cloudformation.exceptions import UnformattedGetAttTemplateException
diff --git a/tests/test_cloudformation/test_cloudformation_stack_integration.py b/tests/test_cloudformation/test_cloudformation_stack_integration.py
index f76e02a4..c168ff72 100644
--- a/tests/test_cloudformation/test_cloudformation_stack_integration.py
+++ b/tests/test_cloudformation/test_cloudformation_stack_integration.py
@@ -694,7 +694,7 @@ def test_vpc_single_instance_in_subnet():
     subnet_resource.physical_resource_id.should.equal(subnet.id)
 
     eip_resource = [resource for resource in resources if resource.resource_type == 'AWS::EC2::EIP'][0]
-    eip_resource.physical_resource_id.should.equal(eip.allocation_id)
+    eip_resource.physical_resource_id.should.equal(eip.public_ip)
 
 @mock_cloudformation()
 @mock_ec2()
@@ -991,7 +991,7 @@ def test_vpc_eip():
     stack = conn.describe_stacks()[0]
     resources = stack.describe_resources()
     cfn_eip = [resource for resource in resources if resource.resource_type == 'AWS::EC2::EIP'][0]
-    cfn_eip.physical_resource_id.should.equal(eip.allocation_id)
+    cfn_eip.physical_resource_id.should.equal(eip.public_ip)
 
 
 @mock_ec2()