Elme Communities (NYSE:ELME) Receives $18.00 Average Target Price from Analysts

Elme Communities (NYSE:ELME) has been assigned a consensus recommendation of “Reduce” from the four ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $18.00.

ELME has been the subject of a number of analyst reports. BTIG Research reissued a “neutral” rating on shares of Elme Communities in a research note on Monday, April 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Elme Communities in a research note on Friday, April 10th.

Elme Communities Stock Up 2.2%

Elme Communities stock opened at $2.06 on Tuesday. The stock has a market capitalization of $182.61 million, a price-to-earnings ratio of -1.35 and a beta of 0.71. The stock has a 50 day moving average of $2.07 and a two-hundred day moving average of $6.73. Elme Communities has a twelve month low of $1.98 and a twelve month high of $17.68. The company has a current ratio of 166.32, a quick ratio of 166.32 and a debt-to-equity ratio of 0.78.

Hedge Funds Weigh In On Elme Communities

Large investors have recently modified their holdings of the business. Federated Hermes Inc. raised its stake in shares of Elme Communities by 107.2% during the 3rd quarter. Federated Hermes Inc. now owns 2,116 shares of the company’s stock worth $36,000 after buying an additional 1,095 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Elme Communities by 39.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock worth $51,000 after buying an additional 922 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Elme Communities during the 4th quarter worth approximately $66,000. US Bancorp DE raised its stake in shares of Elme Communities by 43.8% during the 3rd quarter. US Bancorp DE now owns 4,107 shares of the company’s stock worth $69,000 after buying an additional 1,251 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Elme Communities during the 2nd quarter worth approximately $70,000. 87.88% of the stock is owned by hedge funds and other institutional investors.

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.