Highbridge Capital Management LLC Takes $98.10 Million Position in Elme Communities $ELME

Highbridge Capital Management LLC bought a new stake in Elme Communities (NYSE:ELME) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,638,128 shares of the company’s stock, valued at approximately $98,103,000. Elme Communities accounts for about 3.1% of Highbridge Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Highbridge Capital Management LLC owned approximately 6.40% of Elme Communities as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Elme Communities by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,358 shares of the company’s stock valued at $911,000 after buying an additional 2,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 buying an additional 40,722 shares during the last quarter. Jane Street Group LLC grew its stake in Elme Communities by 170.3% in the 1st quarter. Jane Street Group LLC now owns 101,800 shares of the company’s stock valued at $1,771,000 after buying an additional 64,137 shares during the last quarter. Creative Planning grew its stake in Elme Communities by 29.8% in the 2nd quarter. Creative Planning now owns 14,386 shares of the company’s stock valued at $229,000 after buying an additional 3,307 shares during the last quarter. Finally, Norges Bank acquired a new position in Elme Communities in the 2nd quarter valued at about $1,465,000. 87.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on ELME shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Elme Communities in a research note on Friday, April 10th. BTIG Research reiterated a “neutral” rating on shares of Elme Communities in a research note on Monday, April 6th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $18.00.

Elme Communities Stock Performance

Shares of NYSE:ELME opened at $2.04 on Friday. The company’s 50 day moving average price is $2.08 and its two-hundred day moving average price is $6.22. Elme Communities has a 12-month low of $1.98 and a 12-month high of $17.68. The firm has a market cap of $180.83 million, a PE ratio of -1.34 and a beta of 0.68. The company has a quick ratio of 166.32, a current ratio of 166.32 and a debt-to-equity ratio of 0.78.

About Elme Communities

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.