Elme Communities $ELME Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC lifted its holdings in shares of Elme Communities (NYSE:ELME) by 30.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,554 shares of the company’s stock after purchasing an additional 3,398 shares during the quarter. Metis Global Partners LLC’s holdings in Elme Communities were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cbre Investment Management Listed Real Assets LLC lifted its stake in Elme Communities by 119.3% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,459,062 shares of the company’s stock worth $42,788,000 after purchasing an additional 1,337,974 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Elme Communities in the 1st quarter valued at $924,000. New York State Common Retirement Fund lifted its stake in Elme Communities by 91.1% during the 1st quarter. New York State Common Retirement Fund now owns 55,311 shares of the company’s stock worth $962,000 after acquiring an additional 26,369 shares in the last quarter. HighTower Advisors LLC acquired a new position in Elme Communities during the 1st quarter worth about $530,000. Finally, State of Wyoming purchased a new position in Elme Communities during the 1st quarter valued at about $66,000. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Stock Up 1.1%

ELME stock opened at $16.80 on Friday. The company’s 50 day moving average price is $16.79 and its 200 day moving average price is $16.40. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -11.05 and a beta of 0.97. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 0.54.

Elme Communities (NYSE:ELME) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Elme Communities had a negative return on equity of 13.15% and a negative net margin of 54.57%.The firm had revenue of $62.10 million for the quarter, compared to analyst estimates of $62.17 million. During the same quarter last year, the firm earned $0.23 EPS. The company’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts anticipate that Elme Communities will post 0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ELME. JPMorgan Chase & Co. cut their price target on shares of Elme Communities from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 21st. Weiss Ratings cut shares of Elme Communities from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, November 7th. Truist Financial reiterated a “hold” rating on shares of Elme Communities in a report on Thursday, September 11th. Finally, Wall Street Zen downgraded shares of Elme Communities from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Elme Communities currently has an average rating of “Reduce” and a consensus target price of $18.50.

About Elme Communities

Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The Company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space.