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

Key Points

• Analyst ratings: BTIG reissued a "neutral" rating while Weiss Ratings reiterated a "sell (d+)," and MarketBeat shows a consensus "Reduce" rating with an average target price of $18.00.
• Shares trading near 52‑week low: ELME opened at $2.04 (52‑week low $1.98, high $17.68) with a market cap of $180.8M, a negative P/E (-1.34) and 50‑day/200‑day SMAs of $2.14/$10.58, signaling a steep recent decline.
• Business and ownership: Elme is a REIT focused on senior housing leased to operators, and institutional investors own about 87.88% of the company's stock amid modest recent position changes by several funds.

Elme Communities (NYSE:ELME - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at BTIG Research in a report released on Monday,Benzinga reports.

Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of Elme Communities in a report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Elme Communities presently has an average rating of "Reduce" and an average target price of $18.00.

Elme Communities Stock Performance

ELME opened at $2.04 on Monday. The firm's fifty day simple moving average is $2.14 and its two-hundred day simple moving average is $10.58. Elme Communities has a 52-week low of $1.98 and a 52-week 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 quick ratio of 166.32, a current ratio of 166.32 and a debt-to-equity ratio of 0.78.

Institutional Trading of Elme Communities

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. boosted its position in shares of Elme Communities by 107.2% during the 3rd quarter. Federated Hermes Inc. now owns 2,116 shares of the company's stock worth $36,000 after purchasing an additional 1,095 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 purchasing an additional 922 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Elme Communities in the fourth quarter valued at approximately $66,000. GAMMA Investing LLC grew its holdings in shares of 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 in the last quarter. Finally, US Bancorp DE increased 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 worth $69,000 after buying an additional 1,251 shares during the period. Institutional investors and hedge funds 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.

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