Citadel Advisors LLC trimmed its holdings in Elme Communities (NYSE:ELME – Free Report) by 36.4% in the second quarter, HoldingsChannel reports. The fund owned 963,139 shares of the company’s stock after selling 550,289 shares during the period. Citadel Advisors LLC’s holdings in Elme Communities were worth $1,425,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in ELME. KBC Group NV grew 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 valued at $40,000 after purchasing an additional 16,953 shares during the last quarter. Militia Capital Management LLC bought a new stake in Elme Communities in the first quarter worth $46,000. EverSource Wealth Advisors LLC lifted its stake in Elme Communities by 39.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock worth $51,000 after purchasing an additional 922 shares during the last quarter. US Bancorp DE boosted its position in Elme Communities by 43.8% during the third quarter. US Bancorp DE now owns 4,107 shares of the company’s stock valued at $69,000 after buying an additional 1,251 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Elme Communities during the second quarter valued at about $70,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ELME. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elme Communities in a research note on Wednesday, July 8th. Wall Street Zen upgraded Elme Communities from a “strong sell” rating to a “hold” rating in a report on Saturday, July 25th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $18.00.
Elme Communities Price Performance
Shares of NYSE:ELME opened at $1.68 on Thursday. Elme Communities has a 1 year low of $1.26 and a 1 year high of $17.68. The company has a market cap of $148.84 million, a PE ratio of -1.10 and a beta of 0.72. The stock’s 50-day moving average is $1.61 and its 200 day moving average is $1.89.
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.
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