Credit Industriel ET Commercial Grows Position in Elme Communities $ELME

Credit Industriel ET Commercial boosted its holdings in shares of Elme Communities (NYSE:ELME) by 702.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,625,516 shares of the company’s stock after purchasing an additional 1,423,000 shares during the period. Credit Industriel ET Commercial owned about 1.83% of Elme Communities worth $3,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of 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 acquiring an additional 922 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Elme Communities during the fourth quarter worth about $66,000. US Bancorp DE grew its stake in Elme Communities by 43.8% during the 3rd quarter. US Bancorp DE now owns 4,107 shares of the company’s stock valued at $69,000 after acquiring an additional 1,251 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Elme Communities in the 2nd quarter valued at about $70,000. Finally, Vestcor Inc purchased a new position in Elme Communities in the 3rd quarter worth approximately $93,000. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Stock Performance

NYSE ELME opened at $1.55 on Tuesday. The firm’s fifty day moving average is $1.97 and its two-hundred day moving average is $3.88. The firm has a market cap of $138.18 million, a PE ratio of -1.02 and a beta of 0.73. Elme Communities has a one year low of $1.26 and a one year high of $17.68.

Analysts Set New Price Targets

Several analysts have issued reports on ELME shares. Weiss Ratings restated 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 report on Monday, April 6th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price 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.