Highbridge Capital Management LLC Makes New $98.10 Million Investment in Elme Communities $ELME

Highbridge Capital Management LLC bought a new position in shares of Elme Communities (NYSE:ELME) during the fourth quarter, HoldingsChannel.com reports. The firm bought 5,638,128 shares of the company’s stock, valued at approximately $98,103,000. Elme Communities accounts for approximately 3.1% of Highbridge Capital Management LLC’s portfolio, making the stock its 3rd biggest position. Highbridge Capital Management LLC owned approximately 0.06% of Elme Communities as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ELME. Federated Hermes Inc. grew its position in shares of Elme Communities by 107.2% during the 3rd quarter. Federated Hermes Inc. now owns 2,116 shares of the company’s stock worth $36,000 after purchasing an additional 1,095 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Elme Communities by 39.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock worth $51,000 after purchasing an additional 922 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Elme Communities during the 4th quarter worth approximately $66,000. US Bancorp DE grew its position in shares of 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Elme Communities during the 2nd quarter worth approximately $70,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Stock Performance

Shares of Elme Communities stock opened at $2.04 on Friday. The company has a 50 day moving average of $2.08 and a 200-day moving average of $6.22. Elme Communities has a 1-year low of $1.98 and a 1-year high of $17.68. The company has a current ratio of 166.32, a quick ratio of 166.32 and a debt-to-equity ratio of 0.78. The company has a market cap of $180.83 million, a PE ratio of -1.34 and a beta of 0.68.

Wall Street Analyst Weigh In

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

Elme Communities Company 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.