Nisa Investment Advisors LLC Has $265,000 Stock Holdings in Elme Communities $ELME

Nisa Investment Advisors LLC lessened its holdings in Elme Communities (NYSE:ELME) by 25.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,334 shares of the company’s stock after selling 5,480 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Elme Communities were worth $265,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Elme Communities by 119.3% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,459,062 shares of the company’s stock valued at $42,788,000 after purchasing an additional 1,337,974 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Elme Communities by 0.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,085,259 shares of the company’s stock valued at $33,239,000 after purchasing an additional 14,590 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Elme Communities by 2.7% in the 1st quarter. Northern Trust Corp now owns 1,550,363 shares of the company’s stock valued at $26,976,000 after acquiring an additional 40,124 shares during the last quarter. Nuveen LLC bought a new position in shares of Elme Communities in the 1st quarter valued at $16,613,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Elme Communities by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 638,149 shares of the company’s stock valued at $11,104,000 after acquiring an additional 40,722 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Stock Down 0.4%

Shares of NYSE:ELME opened at $16.39 on Tuesday. The firm has a market cap of $1.44 billion, a P/E ratio of -10.78 and a beta of 1.01. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.78. Elme Communities has a 12-month low of $13.95 and a 12-month high of $18.08. The business has a fifty day simple moving average of $16.85 and a 200 day simple moving average of $16.35.

Elme Communities (NYSE:ELME) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Elme Communities had a negative return on equity of 13.15% and a negative net margin of 54.57%.The business had revenue of $62.10 million for the quarter, compared to analyst estimates of $62.17 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. Analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Analysts Set New Price Targets

ELME has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price target on Elme Communities from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, October 21st. Truist Financial reiterated a “hold” rating on shares of Elme Communities in a research note on Thursday, September 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Elme Communities in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Elme Communities from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, Elme Communities has an average rating of “Hold” and an average target price of $18.50.

Elme Communities Profile

Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The Company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space.