DLD Asset Management LP Purchases New Position in Elme Communities $ELME

DLD Asset Management LP purchased a new stake in shares of Elme Communities (NYSE:ELME) in the third quarter, Holdings Channel.com reports. The firm purchased 432,377 shares of the company’s stock, valued at approximately $7,290,000. Elme Communities accounts for about 0.0% of DLD Asset Management LP’s holdings, making the stock its 26th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of ELME. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 purchasing an additional 2,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 valued at $11,104,000 after buying an additional 40,722 shares during the last quarter. Jane Street Group LLC grew its holdings 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 buying an additional 64,137 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Elme Communities by 16.3% during the second quarter. Teacher Retirement System of Texas now owns 14,962 shares of the company’s stock worth $238,000 after buying an additional 2,096 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Elme Communities by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 747,822 shares of the company’s stock valued at $11,890,000 after buying an additional 19,779 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Elme Communities Trading Down 0.9%

NYSE:ELME opened at $2.16 on Monday. Elme Communities has a 52 week low of $2.10 and a 52 week high of $17.68. The firm has a 50-day moving average price of $4.82 and a two-hundred day moving average price of $12.69. 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 firm has a market cap of $191.93 million, a price-to-earnings ratio of -1.42 and a beta of 0.69.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Elme Communities in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $18.00.

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.