Elme Communities (NYSE:ELME) Coverage Initiated by Analysts at Wolfe Research

Equities researchers at Wolfe Research initiated coverage on shares of Elme Communities (NYSE:ELME) in a research note issued to investors on Monday, Briefing.com reports. The firm set a “peer perform” rating on the stock.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company boosted their target price on Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th.

Elme Communities Stock Performance

ELME opened at $17.05 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. Elme Communities has a 1-year low of $12.44 and a 1-year high of $18.49. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -27.50 and a beta of 0.90. The company’s fifty day moving average price is $17.42 and its two-hundred day moving average price is $16.26.

Institutional Investors Weigh In On Elme Communities

A number of hedge funds and other institutional investors have recently bought and sold shares of ELME. Thornburg Investment Management Inc. boosted its position in shares of Elme Communities by 4.2% in the first quarter. Thornburg Investment Management Inc. now owns 2,455,668 shares of the company’s stock valued at $34,183,000 after acquiring an additional 100,000 shares during the period. Allspring Global Investments Holdings LLC grew its position in Elme Communities by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,186,343 shares of the company’s stock worth $30,434,000 after buying an additional 28,717 shares in the last quarter. William Blair Investment Management LLC increased its stake in Elme Communities by 16.9% in the 1st quarter. William Blair Investment Management LLC now owns 1,950,033 shares of the company’s stock worth $27,144,000 after acquiring an additional 281,199 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Elme Communities by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,259,876 shares of the company’s stock valued at $20,069,000 after acquiring an additional 17,387 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Elme Communities by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company’s stock valued at $16,508,000 after acquiring an additional 69,014 shares during the last quarter. Institutional investors own 87.88% of the company’s stock.

Elme Communities Company Profile

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.