Elme Communities $ELME Shares Sold by Citigroup Inc.

Citigroup Inc. cut its holdings in shares of Elme Communities (NYSE:ELME) by 46.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 299,826 shares of the company’s stock after selling 256,129 shares during the period. Citigroup Inc. owned about 0.34% of Elme Communities worth $5,055,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ELME. Balyasny Asset Management L.P. grew its stake in Elme Communities by 167.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 786,349 shares of the company’s stock valued at $12,503,000 after purchasing an additional 492,558 shares in the last quarter. Wolverine Asset Management LLC increased its stake in shares of Elme Communities by 306.6% in the third quarter. Wolverine Asset Management LLC now owns 574,937 shares of the company’s stock worth $9,693,000 after buying an additional 433,548 shares during the last quarter. Bamco Inc. NY acquired a new stake in Elme Communities in the second quarter valued at $3,768,000. Vanguard Group Inc. boosted its stake in Elme Communities by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,804,794 shares of the company’s stock valued at $232,749,000 after acquiring an additional 205,418 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Elme Communities by 49.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 619,009 shares of the company’s stock worth $10,436,000 after acquiring an additional 203,487 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Elme Communities in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $18.00.

Elme Communities Trading Up 1.4%

NYSE ELME opened at $2.17 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.54 and a current ratio of 0.54. Elme Communities has a one year low of $2.10 and a one year high of $17.68. The company has a 50-day simple moving average of $5.75 and a 200-day simple moving average of $13.00. The firm has a market capitalization of $192.83 million, a PE ratio of -1.43 and a beta of 0.69.

Elme Communities Profile

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.