Elme Communities $ELME Shares Sold by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC cut its stake in shares of Elme Communities (NYSE:ELME) by 30.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,764,378 shares of the company’s stock after selling 760,827 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in Elme Communities were worth $29,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ELME. Vanguard Group Inc. increased its stake 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. State Street Corp boosted its holdings in shares of Elme Communities by 0.5% in the second quarter. State Street Corp now owns 5,212,791 shares of the company’s stock worth $83,804,000 after buying an additional 27,877 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Elme Communities by 2.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,265,951 shares of the company’s stock worth $21,343,000 after buying an additional 35,816 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Elme Communities by 167.7% in the second quarter. Balyasny Asset Management L.P. now owns 786,349 shares of the company’s stock worth $12,503,000 after acquiring an additional 492,558 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Elme Communities by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 747,822 shares of the company’s stock valued at $11,890,000 after acquiring an additional 19,779 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Elme Communities in a research note on Monday, December 29th. Two investment 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, Elme Communities currently has a consensus rating of “Reduce” and a consensus target price of $18.00.

Elme Communities Trading Down 0.2%

NYSE:ELME opened at $2.14 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 166.32 and a quick ratio of 166.32. Elme Communities has a fifty-two week low of $2.10 and a fifty-two week high of $17.68. The stock’s 50-day moving average is $3.91 and its two-hundred day moving average is $12.41. The stock has a market cap of $189.71 million, a PE ratio of -1.40 and a beta of 0.69.

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.