Elme Communities $ELME Shares Sold by Centersquare Investment Management LLC

Centersquare Investment Management LLC decreased its holdings in shares of Elme Communities (NYSE:ELME) by 94.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,320 shares of the company’s stock after selling 734,510 shares during the period. Centersquare Investment Management LLC’s holdings in Elme Communities were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted 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 valued at $51,000 after purchasing an additional 922 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Elme Communities during the 4th quarter valued at about $66,000. US Bancorp DE boosted 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 valued at $69,000 after purchasing an additional 1,251 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Elme Communities during the 2nd quarter valued at about $70,000. Finally, Vestcor Inc bought a new position in shares of Elme Communities during the 3rd quarter valued at about $93,000. Institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Performance

NYSE:ELME opened at $2.05 on Friday. The company has a 50-day moving average of $2.08 and a 200-day moving average of $5.73. The firm has a market cap of $181.72 million, a price-to-earnings ratio of -1.35 and a beta of 0.68. The company has a current ratio of 166.32, a quick ratio of 166.32 and a debt-to-equity ratio of 0.78. Elme Communities has a twelve month low of $1.98 and a twelve month high of $17.68.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ELME shares. BTIG Research restated a “neutral” rating on shares of Elme Communities in a research report on Monday, April 6th. Weiss Ratings restated a “sell (d)” rating on shares of Elme Communities in a research report on Friday, April 10th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Elme Communities presently has an average rating of “Reduce” and a consensus target price 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.