Elme Communities $ELME Shares Sold by Centersquare Investment Management LLC

Centersquare Investment Management LLC lessened its position in Elme Communities (NYSE:ELME) by 94.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,320 shares of the company’s stock after selling 734,510 shares during the period. Centersquare Investment Management LLC’s holdings in Elme Communities were worth $684,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ELME. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 worth $911,000 after acquiring an additional 2,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 worth $11,104,000 after acquiring an additional 40,722 shares during the period. Jane Street Group LLC increased its holdings in shares of Elme Communities by 170.3% in the 1st 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 during the period. Creative Planning increased its holdings in shares of Elme Communities by 29.8% in the 2nd quarter. Creative Planning now owns 14,386 shares of the company’s stock worth $229,000 after acquiring an additional 3,307 shares during the period. Finally, Norges Bank acquired a new stake in shares of Elme Communities in the 2nd quarter worth about $1,465,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ELME. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elme Communities in a report on Friday, April 10th. BTIG Research reissued a “neutral” rating on shares of Elme Communities in a research note on Monday, April 6th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $18.00.

Elme Communities Stock Up 0.2%

Elme Communities stock opened at $2.05 on Friday. The stock has a market cap of $181.72 million, a price-to-earnings ratio of -1.35 and a beta of 0.68. The company has a current ratio of 166.32, a quick ratio of 166.32 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average price is $2.08 and its two-hundred day moving average price is $5.73. Elme Communities has a 52 week low of $1.98 and a 52 week high of $17.68.

Elme Communities 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.