Elme Communities (NYSE:ELME) Raised to “Hold” at Wall Street Zen

Elme Communities (NYSE:ELME) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research firms also recently weighed in on ELME. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elme Communities in a research note on Wednesday, July 8th. BTIG Research reissued a “neutral” rating on shares of Elme Communities in a research note on Monday, April 6th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $18.00.

Elme Communities Trading Up 2.4%

ELME opened at $1.50 on Friday. The stock has a fifty day moving average price of $1.80 and a 200 day moving average price of $2.41. Elme Communities has a 1 year low of $1.26 and a 1 year high of $17.68. The stock has a market cap of $133.73 million, a price-to-earnings ratio of -0.99 and a beta of 0.73.

Institutional Trading of Elme Communities

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in Elme Communities by 39.9% during 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 last quarter. Daiwa Securities Group Inc. raised its position in shares of Elme Communities by 3.6% in the second quarter. Daiwa Securities Group Inc. now owns 31,470 shares of the company’s stock valued at $500,000 after purchasing an additional 1,090 shares during the period. M&T Bank Corp lifted its stake in shares of Elme Communities by 9.1% in the second quarter. M&T Bank Corp now owns 14,268 shares of the company’s stock worth $227,000 after buying an additional 1,190 shares during the last quarter. US Bancorp DE lifted its stake in shares of Elme Communities by 43.8% in the third quarter. US Bancorp DE now owns 4,107 shares of the company’s stock worth $69,000 after buying an additional 1,251 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Elme Communities by 3.4% during the 3rd quarter. Amundi now owns 59,391 shares of the company’s stock worth $994,000 after buying an additional 1,969 shares during the period. Institutional investors own 87.88% of the company’s stock.

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.