452,620 Shares in Elme Communities $ELME Acquired by Deltec Asset Management LLC

Deltec Asset Management LLC bought a new stake in Elme Communities (NYSE:ELME) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 452,620 shares of the company’s stock, valued at approximately $910,000. Deltec Asset Management LLC owned 0.51% of Elme Communities as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Hsbc Holdings PLC grew its holdings in shares of Elme Communities by 19.0% during the 4th quarter. Hsbc Holdings PLC now owns 146,361 shares of the company’s stock worth $2,547,000 after purchasing an additional 23,351 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Elme Communities by 32.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 34,033 shares of the company’s stock valued at $592,000 after buying an additional 8,389 shares during the period. XTX Topco Ltd lifted its position in Elme Communities by 250.9% in the fourth quarter. XTX Topco Ltd now owns 76,918 shares of the company’s stock valued at $1,338,000 after buying an additional 55,000 shares during the last quarter. Millennium Management LLC lifted its position in Elme Communities by 318.9% in the fourth quarter. Millennium Management LLC now owns 959,601 shares of the company’s stock valued at $16,697,000 after buying an additional 730,542 shares during the last quarter. Finally, Moore Capital Management LP purchased a new position in Elme Communities during the fourth quarter worth about $6,422,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Price Performance

Shares of NYSE:ELME opened at $1.55 on Thursday. The firm has a market capitalization of $138.18 million, a PE ratio of -1.02 and a beta of 0.73. Elme Communities has a 1 year low of $1.26 and a 1 year high of $17.68. The firm’s 50-day moving average is $2.00 and its two-hundred day moving average is $4.21.

Wall Street Analysts Forecast Growth

ELME has been the topic of a number of research analyst reports. BTIG Research reissued a “neutral” rating on shares of Elme Communities in a research note on Monday, April 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Elme Communities in a report on Friday, April 10th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $18.00.

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.