Yakira Capital Management Inc. Boosts Position in Elme Communities $ELME

Yakira Capital Management Inc. boosted its position in Elme Communities (NYSE:ELME) by 231.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 475,322 shares of the company’s stock after acquiring an additional 331,810 shares during the period. Elme Communities accounts for 2.8% of Yakira Capital Management Inc.’s portfolio, making the stock its 8th largest position. Yakira Capital Management Inc. owned 0.54% of Elme Communities worth $8,271,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Elme Communities by 39.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock valued at $51,000 after acquiring an additional 922 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Elme Communities in the fourth quarter valued at about $66,000. US Bancorp DE boosted its holdings in Elme Communities by 43.8% in the third quarter. US Bancorp DE now owns 4,107 shares of the company’s stock valued at $69,000 after acquiring an additional 1,251 shares during the last quarter. Raymond James Financial Inc. bought a new position in Elme Communities in the second quarter valued at about $70,000. Finally, Vestcor Inc bought a new position in Elme Communities in the third quarter valued at about $93,000. Institutional investors own 87.88% of the company’s stock.

Elme Communities Price Performance

Shares of ELME opened at $2.04 on Monday. 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 1 year low of $1.98 and a 1 year high of $17.68. The stock has a market cap of $180.83 million, a P/E ratio of -1.34 and a beta of 0.69. The stock’s 50-day moving average price is $2.08 and its two-hundred day moving average price is $5.62.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ELME shares. BTIG Research reiterated a “neutral” rating on shares of Elme Communities in a report on Monday, April 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Elme Communities in a report on Friday, April 10th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Elme Communities presently has a consensus rating of “Reduce” and an average target price of $18.00.

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.