Verition Fund Management LLC Acquires 337,185 Shares of Elme Communities $ELME

Verition Fund Management LLC increased its holdings in Elme Communities (NYSE:ELME) by 17.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,315,319 shares of the company’s stock after purchasing an additional 337,185 shares during the period. Verition Fund Management LLC owned approximately 2.63% of Elme Communities worth $40,287,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Elme Communities by 1.5% during the third quarter. Vanguard Group Inc. now owns 13,804,794 shares of the company’s stock worth $232,749,000 after buying an additional 205,418 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Elme Communities during the 4th quarter valued at $98,103,000. State Street Corp increased its holdings in Elme Communities by 0.5% during the 2nd quarter. State Street Corp now owns 5,212,791 shares of the company’s stock valued at $83,804,000 after purchasing an additional 27,877 shares in the last quarter. Mangrove Partners IM LLC bought a new position in Elme Communities in the 3rd quarter valued at $34,485,000. Finally, Renaissance Technologies LLC boosted its stake in Elme Communities by 26.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,914,137 shares of the company’s stock worth $33,306,000 after purchasing an additional 399,566 shares in the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.

Elme Communities Trading Up 0.2%

Shares of NYSE ELME opened at $2.04 on Monday. 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 $180.83 million, a P/E ratio of -1.34 and a beta of 0.69. The company has a debt-to-equity ratio of 0.78, a current ratio of 166.32 and a quick ratio of 166.32. The company’s 50 day simple moving average is $2.08 and its 200 day simple moving average is $5.62.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ELME shares. Weiss Ratings restated a “sell (d)” rating on shares of Elme Communities in a research note on Friday, April 10th. BTIG Research restated a “neutral” rating on shares of Elme Communities in a research report on Monday, April 6th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Elme Communities presently has a consensus rating of “Reduce” and a consensus target price of $18.00.

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.