Elme Communities (NYSE:ELME) Receives $18.00 Average PT from Brokerages

Elme Communities (NYSE:ELME) has received a consensus rating of “Reduce” from the four ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $18.00.

Several equities analysts have issued reports on ELME shares. BTIG Research reissued a “neutral” rating on shares of Elme Communities in a research note on Monday. Weiss Ratings reissued a “sell (d+)” rating on shares of Elme Communities in a research note on Monday, December 29th.

Hedge Funds Weigh In On Elme Communities

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. grew its stake 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 worth $36,000 after purchasing an additional 1,095 shares during the period. EverSource Wealth Advisors LLC grew its stake 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 worth $51,000 after purchasing an additional 922 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Elme Communities during the 4th quarter worth $66,000. GAMMA Investing LLC grew its stake in shares of Elme Communities by 20.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,001 shares of the company’s stock worth $67,000 after purchasing an additional 688 shares during the period. Finally, US Bancorp DE grew its stake in shares of Elme Communities by 43.8% during the 3rd quarter. US Bancorp DE now owns 4,107 shares of the company’s stock worth $69,000 after purchasing an additional 1,251 shares during the period. 87.88% of the stock is owned by institutional investors and hedge funds.

Elme Communities Stock Performance

Shares of Elme Communities stock opened at $2.07 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 166.32 and a quick ratio of 166.32. The stock has a market capitalization of $183.50 million, a price-to-earnings ratio of -1.36 and a beta of 0.71. The firm’s fifty day simple moving average is $2.13 and its 200-day simple moving average is $10.31. Elme Communities has a 12 month low of $1.98 and a 12 month high of $17.68.

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.