Elme Communities $ELME Holdings Lowered by Argosy Lionbridge Management LLC

Key Points

• Argosy Lionbridge Management LLC trimmed its stake in Elme Communities by 35.5%, selling 700,408 shares and ending the quarter with 1,272,442 shares (about 14.1% of the firm's holdings), representing roughly 1.44% of Elme worth $21.45 million.
• Other institutional investors including UBS, Jane Street and BNY Mellon increased positions during recent quarters, and hedge funds/institutions now own a combined 87.88% of Elme's stock.
• Analyst sentiment is weak: Weiss Ratings reaffirmed a Sell (d+), the consensus is "Reduce" with an average target of $18, while the stock trades near its 52‑week low (~$2.07) and has a market cap of $183.5 million.

Argosy Lionbridge Management LLC trimmed its holdings in Elme Communities (NYSE:ELME - Free Report) by 35.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,272,442 shares of the company's stock after selling 700,408 shares during the quarter. Elme Communities accounts for about 14.1% of Argosy Lionbridge Management LLC's holdings, making the stock its 3rd biggest holding. Argosy Lionbridge Management LLC owned approximately 1.44% of Elme Communities worth $21,453,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Elme Communities by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,358 shares of the company's stock valued at $911,000 after purchasing an additional 2,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Elme Communities by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 638,149 shares of the company's stock worth $11,104,000 after purchasing an additional 40,722 shares during the period. Jane Street Group LLC raised its position in Elme Communities by 170.3% in the 1st quarter. Jane Street Group LLC now owns 101,800 shares of the company's stock worth $1,771,000 after purchasing an additional 64,137 shares during the period. Bank of New York Mellon Corp lifted its stake in Elme Communities by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 747,822 shares of the company's stock worth $11,890,000 after purchasing an additional 19,779 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Elme Communities by 15.5% in the second quarter. Los Angeles Capital Management LLC now owns 12,625 shares of the company's stock worth $201,000 after purchasing an additional 1,690 shares during the last quarter. Hedge funds and other institutional investors own 87.88% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Elme Communities in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $18.00.

Elme Communities Stock Down 1.2%

Shares of Elme Communities stock opened at $2.07 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 166.32 and a current ratio of 166.32. Elme Communities has a 52-week low of $2.05 and a 52-week high of $17.68. The stock has a market capitalization of $183.50 million, a price-to-earnings ratio of -1.36 and a beta of 0.69. The company's 50 day moving average price is $3.29 and its 200-day moving average price is $12.20.

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.

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