GABELLI & Co INVESTMENT ADVISERS INC. Acquires 483,800 Shares of Elme Communities $ELME

GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Elme Communities (NYSE:ELME) by 504.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 579,640 shares of the company’s stock after purchasing an additional 483,800 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.65% of Elme Communities worth $1,165,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. KBC Group NV boosted its holdings in shares of Elme Communities by 623.3% during the 1st quarter. KBC Group NV now owns 19,673 shares of the company’s stock worth $40,000 after buying an additional 16,953 shares during the period. Militia Capital Management LLC bought a new stake in shares of Elme Communities during the first quarter worth approximately $46,000. EverSource Wealth Advisors LLC grew its position in shares of Elme Communities by 39.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock valued at $51,000 after purchasing an additional 922 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Elme Communities during the fourth quarter worth approximately $66,000. Finally, US Bancorp DE lifted its holdings in 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 purchasing an additional 1,251 shares during the last quarter. 87.88% of the stock is owned by institutional investors.

Elme Communities Stock Performance

Shares of NYSE ELME opened at $1.50 on Friday. The stock has a market capitalization of $133.73 million, a P/E ratio of -0.99 and a beta of 0.73. The stock’s fifty day moving average is $1.80 and its 200 day moving average is $2.41. Elme Communities has a 52 week low of $1.26 and a 52 week high of $17.68.

Analysts Set New Price Targets

ELME has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Elme Communities in a research report on Wednesday, July 8th. BTIG Research reiterated a “neutral” rating on shares of Elme Communities in a research note on Monday, April 6th. Finally, Wall Street Zen upgraded shares of Elme Communities from a “strong sell” rating to a “hold” rating in a research report on Saturday. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $18.00.

Elme Communities 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.