Elme Communities $ELME Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC raised its stake in Elme Communities (NYSE:ELME) by 30.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,554 shares of the company’s stock after acquiring an additional 3,398 shares during the period. Metis Global Partners LLC’s holdings in Elme Communities were worth $231,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ELME. Cbre Investment Management Listed Real Assets LLC grew its position in shares of Elme Communities by 2.7% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,525,205 shares of the company’s stock valued at $40,151,000 after buying an additional 66,143 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in Elme Communities in the second quarter valued at $187,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Elme Communities during the second quarter worth about $104,000. Bank of New York Mellon Corp increased its position in shares of Elme Communities by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 747,822 shares of the company’s stock worth $11,890,000 after purchasing an additional 19,779 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Elme Communities during the second quarter worth about $172,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ELME shares. Truist Financial restated a “hold” rating on shares of Elme Communities in a research note on Thursday, September 11th. JPMorgan Chase & Co. decreased their price objective on Elme Communities from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Wall Street Zen cut shares of Elme Communities from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Finally, Weiss Ratings cut shares of Elme Communities from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $18.50.

Elme Communities Trading Up 1.1%

NYSE:ELME opened at $16.80 on Friday. Elme Communities has a 12-month low of $13.95 and a 12-month high of $18.08. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $16.79 and its 200-day simple moving average is $16.40. The firm has a market cap of $1.48 billion, a P/E ratio of -11.05 and a beta of 0.97.

Elme Communities (NYSE:ELME) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Elme Communities had a negative return on equity of 13.15% and a negative net margin of 54.57%.The company had revenue of $62.10 million for the quarter, compared to analyst estimates of $62.17 million. During the same period in the prior year, the business earned $0.23 earnings per share. Elme Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts anticipate that Elme Communities will post 0.94 EPS for the current year.

About Elme Communities

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.