Elme Communities (NYSE:ELME) Receives Consensus Recommendation of “Reduce” from Brokerages

Elme Communities (NYSE:ELME) has been given an average recommendation of “Reduce” by the four research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $18.00.

Several equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elme Communities in a research note on Friday, April 10th. BTIG Research reaffirmed a “neutral” rating on shares of Elme Communities in a research note on Monday, April 6th.

Hedge Funds Weigh In On Elme Communities

Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake 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 valued at $197,000 after acquiring an additional 810 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Elme Communities by 39.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock valued at $51,000 after acquiring an additional 922 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Elme Communities by 3.6% during the second quarter. Daiwa Securities Group Inc. now owns 31,470 shares of the company’s stock valued at $500,000 after acquiring an additional 1,090 shares during the last quarter. M&T Bank Corp raised its stake in shares of Elme Communities by 9.1% during the second quarter. M&T Bank Corp now owns 14,268 shares of the company’s stock valued at $227,000 after acquiring an additional 1,190 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Elme Communities by 43.8% during the third quarter. US Bancorp DE now owns 4,107 shares of the company’s stock valued at $69,000 after acquiring an additional 1,251 shares during the last quarter. 87.88% of the stock is owned by institutional investors.

Elme Communities Stock Performance

Shares of NYSE:ELME opened at $1.48 on Friday. The company has a market cap of $131.07 million, a price-to-earnings ratio of -0.97 and a beta of 0.68. The company has a 50-day moving average price of $2.04 and a 200-day moving average price of $4.63. The company has a current ratio of 166.32, a quick ratio of 166.32 and a debt-to-equity ratio of 0.78. Elme Communities has a 12 month low of $1.26 and a 12 month high of $17.68.

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.