BTIG Research Reiterates Neutral Rating for Elme Communities (NYSE:ELME)

Elme Communities (NYSE:ELME)‘s stock had its “neutral” rating reissued by investment analysts at BTIG Research in a note issued to investors on Monday,Benzinga reports.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Elme Communities in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $18.00.

Elme Communities Stock Performance

Shares of Elme Communities stock opened at $2.04 on Monday. Elme Communities has a one year low of $1.98 and a one year high of $17.68. The company has a market cap of $180.83 million, a price-to-earnings ratio of -1.34 and a beta of 0.71. 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 business’s 50 day moving average price is $2.13 and its 200 day moving average price is $10.37.

Institutional Investors Weigh In On Elme Communities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELME. Federated Hermes Inc. raised its position in Elme Communities by 107.2% in the third quarter. Federated Hermes Inc. now owns 2,116 shares of the company’s stock valued at $36,000 after purchasing an additional 1,095 shares during the period. EverSource Wealth Advisors LLC raised its position in Elme Communities by 39.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock valued at $51,000 after purchasing an additional 922 shares during the period. FNY Investment Advisers LLC purchased a new stake in Elme Communities in the fourth quarter valued at $66,000. GAMMA Investing LLC raised its position in Elme Communities by 20.8% in the third quarter. GAMMA Investing LLC now owns 4,001 shares of the company’s stock valued at $67,000 after purchasing an additional 688 shares during the period. Finally, US Bancorp DE raised its position in Elme Communities by 43.8% in the third quarter. US Bancorp DE now owns 4,107 shares of the company’s stock valued at $69,000 after purchasing an additional 1,251 shares during the period. Hedge funds and other institutional investors own 87.88% of the company’s stock.

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.