Elme Communities (NYSE:ELME) Given Consensus Rating of “Reduce” by Brokerages

Shares of Elme Communities (NYSE:ELME) have earned an average recommendation of “Reduce” from the four analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.00.

A number of brokerages recently issued reports on ELME. Weiss Ratings reissued a “sell (d)” rating on shares of Elme Communities in a research report on Friday, April 10th. BTIG Research reissued a “neutral” rating on shares of Elme Communities in a research report on Monday, April 6th.

Institutional Trading of Elme Communities

Several institutional investors and hedge funds have recently bought and sold shares of ELME. PNC Financial Services Group Inc. grew its position in Elme Communities by 7.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 11,661 shares of the company’s stock valued at $197,000 after buying an additional 810 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Elme Communities by 39.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock worth $51,000 after acquiring an additional 922 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Elme Communities by 3.6% in the second quarter. Daiwa Securities Group Inc. now owns 31,470 shares of the company’s stock worth $500,000 after acquiring an additional 1,090 shares in the last quarter. M&T Bank Corp grew its position in Elme Communities by 9.1% during the second quarter. M&T Bank Corp now owns 14,268 shares of the company’s stock worth $227,000 after buying an additional 1,190 shares during the period. Finally, US Bancorp DE grew its position in Elme Communities by 43.8% during the third quarter. US Bancorp DE now owns 4,107 shares of the company’s stock worth $69,000 after buying an additional 1,251 shares during the period. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Price Performance

Shares of NYSE ELME opened at $2.03 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 fifty-two week low of $1.98 and a fifty-two week high of $17.68. The firm has a market capitalization of $179.94 million, a PE ratio of -1.33 and a beta of 0.68. The stock’s 50-day simple moving average is $2.07 and its 200-day simple moving average is $4.76.

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.