Elme Communities (NYSE:ELME) Given Consensus Rating of “Reduce” by Analysts

Elme Communities (NYSE:ELME) has received a consensus recommendation of “Reduce” from the four ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $18.00.

ELME has been the topic of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of Elme Communities in a report on Friday, April 10th. BTIG Research reaffirmed a “neutral” rating on shares of Elme Communities in a research report on Monday, April 6th.

Elme Communities Trading Up 1.6%

NYSE:ELME opened at $2.19 on Friday. Elme Communities has a 1 year low of $1.98 and a 1 year high of $17.68. 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 fifty day moving average price of $2.11 and a two-hundred day moving average price of $8.73. The stock has a market capitalization of $194.16 million, a price-to-earnings ratio of -1.44 and a beta of 0.71.

Institutional Investors Weigh In On Elme Communities

A number of large investors have recently added to or reduced their stakes in ELME. Vanguard Group Inc. lifted its holdings 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 buying an additional 205,418 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Elme Communities during the fourth quarter valued at about $98,103,000. State Street Corp increased its position in shares of Elme Communities by 0.5% during the second quarter. State Street Corp now owns 5,212,791 shares of the company’s stock worth $83,804,000 after acquiring an additional 27,877 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Elme Communities by 71.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 2,952,822 shares of the company’s stock worth $51,379,000 after acquiring an additional 1,230,674 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Elme Communities by 17.0% in the fourth quarter. Verition Fund Management LLC now owns 2,315,319 shares of the company’s stock worth $40,287,000 after acquiring an additional 337,185 shares in the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.

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.