DLD Asset Management LP Buys 535,312 Shares of Elme Communities $ELME

DLD Asset Management LP boosted its stake in Elme Communities (NYSE:ELME) by 96.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,090,312 shares of the company’s stock after buying an additional 535,312 shares during the period. DLD Asset Management LP’s holdings in Elme Communities were worth $2,192,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Highbridge Capital Management LLC bought a new stake in shares of Elme Communities during the fourth quarter worth approximately $98,103,000. Bulldog Investors LLP bought a new position in shares of Elme Communities during the first quarter worth approximately $4,020,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Elme Communities during the third quarter worth approximately $29,035,000. Verition Fund Management LLC lifted its holdings in Elme Communities by 393.5% during the 3rd quarter. Verition Fund Management LLC now owns 1,978,134 shares of the company’s stock worth $33,351,000 after purchasing an additional 1,577,295 shares during the last quarter. Finally, Credit Industriel ET Commercial lifted its holdings in Elme Communities by 702.7% during the 1st quarter. Credit Industriel ET Commercial now owns 1,625,516 shares of the company’s stock worth $3,267,000 after purchasing an additional 1,423,000 shares during the last quarter. 87.88% of the stock is owned by institutional investors.

Elme Communities Trading Down 1.0%

Shares of NYSE:ELME opened at $1.50 on Thursday. The firm has a 50 day moving average of $1.83 and a 200-day moving average of $2.53. Elme Communities has a 12 month low of $1.26 and a 12 month high of $17.68. The stock has a market capitalization of $132.85 million, a PE ratio of -0.98 and a beta of 0.73.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ELME shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elme Communities in a report on Wednesday, July 8th. BTIG Research reissued a “neutral” rating on shares of Elme Communities in a report on Monday, April 6th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Elme Communities has an average rating of “Reduce” and an average price target 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.