Elme Communities' (ELME) Hold (C) Rating Reiterated at Weiss Ratings

Key Points

• Elme Communities (NYSE: ELME) has received a "hold (c)" rating reiterated by Weiss Ratings, while others like Wall Street Zen have downgraded it to a "sell".
• Averaging a "hold" rating, Elme Communities has a consensus target price of $18.50, despite trading at $16.73.
• Elme Communities reported a quarterly EPS of $0.24, exceeding estimates and reflecting a 3.3% year-over-year revenue increase to $62.10 million.

Elme Communities (NYSE:ELME - Get Free Report)'s stock had its "hold (c)" rating reiterated by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Elme Communities from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Truist Financial reaffirmed a "hold" rating on shares of Elme Communities in a research note on Thursday, September 11th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $18.50.

Elme Communities Stock Up 0.1%

NYSE ELME traded up $0.02 during trading hours on Wednesday, reaching $16.73. 607,019 shares of the company's stock were exchanged, compared to its average volume of 997,974. The company's 50-day moving average is $16.77 and its two-hundred day moving average is $16.26. Elme Communities has a one year low of $13.95 and a one year high of $18.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -111.53 and a beta of 1.01.

Elme Communities (NYSE:ELME - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The business had revenue of $62.10 million during the quarter, compared to analysts' expectations of $61.63 million. During the same period in the prior year, the business earned $0.23 EPS. Elme Communities's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that Elme Communities will post 0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Elme Communities

A number of hedge funds and other institutional investors have recently modified their holdings of ELME. GAMMA Investing LLC lifted its holdings in shares of Elme Communities by 1,505.2% during the first quarter. GAMMA Investing LLC now owns 53,888 shares of the company's stock worth $938,000 after buying an additional 50,531 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Elme Communities by 5.3% during the first quarter. SG Americas Securities LLC now owns 23,573 shares of the company's stock worth $410,000 after buying an additional 1,193 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Elme Communities during the first quarter worth $1,829,000. Vanderbilt University acquired a new position in Elme Communities in the first quarter valued at about $985,000. Finally, Hunter Perkins Capital Management LLC raised its stake in Elme Communities by 173.1% in the first quarter. Hunter Perkins Capital Management LLC now owns 63,410 shares of the company's stock valued at $1,103,000 after purchasing an additional 40,195 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company's stock.

About Elme Communities

Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The Company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space.

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