Elme Communities (NYSE:ELME) Given Average Recommendation of "Reduce" by Analysts

Key Points

• Elme Communities has an average analyst recommendation of “Reduce” from four brokerages (one sell, three holds) with an average 1‑year target price of $18.00.
• Shares traded at about $2.05, near a 12‑month low of $1.98 and far below the 12‑month high of $17.68; the company has a market cap of $181.72M and a negative P/E of −1.35.
• Institutional investors own roughly 87.88% of the stock, and several funds recently increased their stakes.

Elme Communities (NYSE:ELME - Get Free Report) has been given an average rating of "Reduce" by the four brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $18.00.

A number of research analysts have recently commented on the company. Weiss Ratings restated a "sell (d+)" rating on shares of Elme Communities in a report on Monday, December 29th. BTIG Research reiterated a "neutral" rating on shares of Elme Communities in a report on Monday.

Institutional Trading of Elme Communities

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in Elme Communities by 107.2% in the third quarter. Federated Hermes Inc. now owns 2,116 shares of the company's stock valued at $36,000 after buying an additional 1,095 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Elme Communities by 39.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company's stock worth $51,000 after acquiring an additional 922 shares during the period. FNY Investment Advisers LLC acquired a new stake in Elme Communities during the 4th quarter worth about $66,000. GAMMA Investing LLC raised its position in shares of Elme Communities by 20.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,001 shares of the company's stock worth $67,000 after acquiring an additional 688 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Elme Communities by 43.8% in the 3rd quarter. US Bancorp DE now owns 4,107 shares of the company's stock worth $69,000 after acquiring an additional 1,251 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company's stock.

Elme Communities Price Performance

Shares of ELME stock traded down $0.01 on Monday, hitting $2.05. 235,786 shares of the company's stock were exchanged, compared to its average volume of 4,057,776. Elme Communities has a 12 month low of $1.98 and a 12 month high of $17.68. The company has a debt-to-equity ratio of 0.78, a current ratio of 166.32 and a quick ratio of 166.32. The company has a 50 day moving average of $2.14 and a 200 day moving average of $10.58. The stock has a market cap of $181.72 million, a P/E ratio of -1.35 and a beta of 0.71.

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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