Elme Communities $ELME Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP cut its Elme Communities stake by 86.9% in the first quarter, selling 1,066,442 shares and retaining 161,412 shares valued at approximately $324,000.
• Institutional ownership remains high at 87.88%, although other investors made mixed moves, including significant purchases by Credit Industriel ET Commercial and KBC Group.
• Analyst sentiment is cautious: Elme Communities has an average “Reduce” rating and an $18.00 price target, while the stock opened at $1.62 and trades near its 52-week low.

Dimensional Fund Advisors LP lessened its holdings in shares of Elme Communities (NYSE:ELME - Free Report) by 86.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,412 shares of the company's stock after selling 1,066,442 shares during the period. Dimensional Fund Advisors LP owned approximately 0.18% of Elme Communities worth $324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV increased its position in Elme Communities by 623.3% during the 1st quarter. KBC Group NV now owns 19,673 shares of the company's stock valued at $40,000 after buying an additional 16,953 shares in the last quarter. Credit Industriel ET Commercial grew its stake in shares of Elme Communities by 702.7% during the first quarter. Credit Industriel ET Commercial now owns 1,625,516 shares of the company's stock worth $3,267,000 after acquiring an additional 1,423,000 shares during the last quarter. Deltec Asset Management LLC purchased a new stake in shares of Elme Communities during the first quarter worth about $910,000. Hsbc Holdings PLC increased its holdings in shares of Elme Communities by 19.0% during the fourth quarter. Hsbc Holdings PLC now owns 146,361 shares of the company's stock valued at $2,547,000 after acquiring an additional 23,351 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in shares of Elme Communities by 32.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 34,033 shares of the company's stock valued at $592,000 after acquiring an additional 8,389 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of Elme Communities in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of Elme Communities from a "strong sell" rating to a "hold" rating in a research note on Saturday, July 25th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $18.00.

Elme Communities Price Performance

Shares of ELME stock opened at $1.62 on Friday. The business has a fifty day moving average of $1.68 and a 200 day moving average of $1.96. Elme Communities has a 1 year low of $1.26 and a 1 year high of $17.68. The firm has a market capitalization of $144.40 million, a price-to-earnings ratio of -1.07 and a beta of 0.72.

Elme Communities 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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