Elme Communities’ (ELME) “Neutral” Rating Reaffirmed at BTIG Research

BTIG Research reissued their neutral rating on shares of Elme Communities (NYSE:ELME) in a report released on Monday morning,Benzinga reports.

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Elme Communities in a report on Monday, December 29th. Three 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, the company currently has an average rating of “Reduce” and an average target price of $18.00.

Elme Communities Stock Performance

Elme Communities stock opened at $2.04 on Monday. The firm’s fifty day moving average price is $2.13 and its 200-day moving average price is $10.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 166.32 and a current ratio of 166.32. The stock has a market cap of $180.83 million, a P/E ratio of -1.34 and a beta of 0.71. Elme Communities has a fifty-two week low of $1.98 and a fifty-two week high of $17.68.

Hedge Funds Weigh In On Elme Communities

Institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. grew its holdings in shares of Elme Communities by 107.2% during the 3rd quarter. Federated Hermes Inc. now owns 2,116 shares of the company’s stock valued at $36,000 after purchasing an additional 1,095 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Elme Communities by 39.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock valued at $51,000 after purchasing an additional 922 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Elme Communities during the 4th quarter valued at $66,000. GAMMA Investing LLC grew its holdings in Elme Communities by 20.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,001 shares of the company’s stock worth $67,000 after acquiring an additional 688 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Elme Communities by 43.8% in the 3rd quarter. US Bancorp DE now owns 4,107 shares of the company’s stock worth $69,000 after acquiring an additional 1,251 shares during the last quarter. Institutional investors own 87.88% of the company’s stock.

Elme Communities Company 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.