BTIG Research Reaffirms Neutral Rating for Elme Communities (NYSE:ELME)

Elme Communities (NYSE:ELME)‘s stock had its “neutral” rating reiterated by equities research analysts at BTIG Research in a research note issued on Monday,Benzinga reports.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Elme Communities in a report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $18.00.

Elme Communities Trading Down 0.7%

NYSE ELME opened at $2.04 on Monday. Elme Communities has a 52 week low of $1.98 and a 52 week high of $17.68. The firm has a 50 day moving average of $2.14 and a two-hundred day moving average of $10.58. The company has a quick ratio of 166.32, a current ratio of 166.32 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $180.83 million, a PE ratio of -1.34 and a beta of 0.71.

Institutional Investors Weigh In On Elme Communities

A number of institutional investors have recently added to or reduced their stakes in ELME. Vanderbilt University acquired a new position in Elme Communities during the third quarter worth $1,078,000. Wolverine Asset Management LLC boosted its holdings in Elme Communities by 306.6% during the third quarter. Wolverine Asset Management LLC now owns 574,937 shares of the company’s stock worth $9,693,000 after buying an additional 433,548 shares in the last quarter. Irenic Capital Management LP acquired a new position in Elme Communities during the third quarter worth about $28,660,000. Mangrove Partners IM LLC acquired a new stake in shares of Elme Communities during the 3rd quarter valued at approximately $34,485,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Elme Communities by 24.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 411,350 shares of the company’s stock worth $6,540,000 after acquiring an additional 80,861 shares in the last quarter. 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.