Elme Communities (NYSE:ELME) Receives Average Rating of "Reduce" from Analysts

Key Points

• Analysts rate Elme Communities as "Reduce" — four firms cover the stock (one sell, three hold) and the average 12‑month target price is $18.00.
• Shares trade near multi‑month lows, opening at $2.19 with a 50‑day average of $2.11 and a 200‑day average of $8.73; market cap is about $194 million and the P/E is negative (-1.44).
• High institutional ownership (87.88%) and Elme is a REIT focused on senior‑living properties leased to operators under long‑term contracts.

Elme Communities (NYSE:ELME - Get Free Report) has earned a consensus recommendation of "Reduce" from the four ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $18.00.

Several research analysts have recently weighed in on ELME shares. Weiss Ratings reissued a "sell (d)" rating on shares of Elme Communities in a research report on Friday, April 10th. BTIG Research restated a "neutral" rating on shares of Elme Communities in a research report on Monday, April 6th.

Elme Communities Stock Up 1.6%

Shares of ELME opened at $2.19 on Friday. The stock has a 50 day moving average price of $2.11 and a 200 day moving average price of $8.73. Elme Communities has a one year low of $1.98 and a one year high of $17.68. The company has a debt-to-equity ratio of 0.78, a quick ratio of 166.32 and a current ratio of 166.32. The stock has a market capitalization of $194.16 million, a price-to-earnings ratio of -1.44 and a beta of 0.71.

Institutional Investors Weigh In On Elme Communities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELME. Atlantic Union Bankshares Corp lifted its position in Elme Communities by 6.0% in the third quarter. Atlantic Union Bankshares Corp now owns 12,455 shares of the company's stock valued at $210,000 after acquiring an additional 702 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Elme Communities by 7.5% during the third quarter. PNC Financial Services Group Inc. now owns 11,661 shares of the company's stock worth $197,000 after purchasing an additional 810 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Elme Communities by 3.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 23,872 shares of the company's stock valued at $396,000 after purchasing an additional 814 shares during the last quarter. Amalgamated Bank increased its position in Elme Communities by 3.3% during the third quarter. Amalgamated Bank now owns 26,005 shares of the company's stock worth $438,000 after buying an additional 836 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Elme Communities by 39.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company's stock worth $51,000 after buying an additional 922 shares during the period. Hedge funds and other institutional investors 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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