Elme Communities’ (ELME) “Neutral” Rating Reiterated at BTIG Research
by Amy Steele · The Cerbat GemBTIG Research reissued their neutral rating on shares of Elme Communities (NYSE:ELME – Free Report) in a report issued on Monday,Benzinga reports.
Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Elme Communities in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $18.00.
Get Our Latest Stock Report on Elme Communities
Elme Communities Trading Up 2.2%
Shares of ELME opened at $2.07 on Monday. The stock has a market capitalization of $183.50 million, a P/E ratio of -1.36 and a beta of 0.71. The company has a quick ratio of 166.32, a current ratio of 166.32 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $2.13 and a two-hundred day simple moving average of $10.31. Elme Communities has a twelve month low of $1.98 and a twelve month high of $17.68.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Elme Communities by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 13,804,794 shares of the company’s stock worth $232,749,000 after purchasing an additional 205,418 shares in the last quarter. Highbridge Capital Management LLC bought a new position in Elme Communities in the 4th quarter worth $98,103,000. State Street Corp raised its holdings in Elme Communities by 0.5% in the 2nd quarter. State Street Corp now owns 5,212,791 shares of the company’s stock worth $83,804,000 after purchasing an additional 27,877 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in Elme Communities by 71.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,952,822 shares of the company’s stock worth $51,379,000 after purchasing an additional 1,230,674 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in Elme Communities by 17.0% in the 4th quarter. Verition Fund Management LLC now owns 2,315,319 shares of the company’s stock worth $40,287,000 after purchasing an additional 337,185 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors.
About Elme Communities
Elme Communities, Inc is a real estate investment trust (REIT) specializing in senior living real estate. The company focuses on acquiring and strategically partnering in a diversified portfolio of senior housing communities, providing real estate solutions across the spectrum of independent living, assisted living and memory care facilities. Elme Communities leases properties to experienced operators under long-term contractual arrangements designed to generate stable rental income and align incentives for both landlord and operator.
The company’s core activities include identifying acquisition opportunities, underwriting property performance, structuring lease agreements and overseeing asset management functions.