Versor Investments LP Makes New Investment in Elme Communities $ELME

Versor Investments LP acquired a new stake in Elme Communities (NYSE:ELME) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,817 shares of the company’s stock, valued at approximately $172,000.

Other hedge funds have also recently made changes to their positions in the company. Aberdeen Group plc raised its holdings in shares of Elme Communities by 3.6% in the 1st quarter. Aberdeen Group plc now owns 23,774 shares of the company’s stock worth $414,000 after acquiring an additional 828 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in Elme Communities by 4.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 23,058 shares of the company’s stock valued at $367,000 after purchasing an additional 934 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Elme Communities by 12.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company’s stock worth $177,000 after purchasing an additional 1,164 shares in the last quarter. CWM LLC raised its stake in shares of Elme Communities by 240.1% in the second quarter. CWM LLC now owns 2,078 shares of the company’s stock worth $33,000 after purchasing an additional 1,467 shares during the last quarter. Finally, LDR Capital Management LLC lifted its holdings in shares of Elme Communities by 1.9% in the second quarter. LDR Capital Management LLC now owns 80,207 shares of the company’s stock valued at $1,275,000 after purchasing an additional 1,504 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Stock Up 1.1%

Shares of NYSE:ELME opened at $16.74 on Friday. Elme Communities has a 1 year low of $13.95 and a 1 year high of $18.08. The company has a market capitalization of $1.48 billion, a PE ratio of -11.02 and a beta of 0.97. The business has a fifty day moving average price of $16.81 and a two-hundred day moving average price of $16.37. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.51.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on ELME shares. JPMorgan Chase & Co. decreased their price target on Elme Communities from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Truist Financial reaffirmed a “hold” rating on shares of Elme Communities in a report on Thursday, September 11th. Wall Street Zen lowered shares of Elme Communities from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Elme Communities in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Elme Communities Profile

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.