DLD Asset Management LP Buys 535,312 Shares of Elme Communities $ELME

DLD Asset Management LP lifted its stake in shares of Elme Communities (NYSE:ELME) by 96.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,090,312 shares of the company’s stock after purchasing an additional 535,312 shares during the period. DLD Asset Management LP owned 1.23% of Elme Communities worth $2,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Elme Communities by 4.6% in the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Elme Communities by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 638,149 shares of the company’s stock worth $11,104,000 after acquiring an additional 40,722 shares in the last quarter. Jane Street Group LLC raised its position in Elme Communities by 170.3% during the first quarter. Jane Street Group LLC now owns 101,800 shares of the company’s stock worth $1,771,000 after acquiring an additional 64,137 shares in the last quarter. Creative Planning lifted its stake in Elme Communities by 29.8% in the second quarter. Creative Planning now owns 14,386 shares of the company’s stock valued at $229,000 after acquiring an additional 3,307 shares during the last quarter. Finally, Norges Bank acquired a new stake in Elme Communities in the second quarter valued at $1,465,000. Institutional investors own 87.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on ELME shares. Weiss Ratings restated a “sell (d)” rating on shares of Elme Communities in a research note on Wednesday, July 8th. BTIG Research reiterated a “neutral” rating on shares of Elme Communities in a research note on Monday, April 6th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Elme Communities currently has a consensus rating of “Reduce” and an average target price of $18.00.

Elme Communities Trading Down 1.0%

ELME stock opened at $1.50 on Thursday. The firm has a market capitalization of $132.85 million, a PE ratio of -0.98 and a beta of 0.73. Elme Communities has a 1-year low of $1.26 and a 1-year high of $17.68. The business’s 50 day simple moving average is $1.83 and its 200 day simple moving average is $2.53.

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.