Argosy Lionbridge Management LLC Has $21.45 Million Position in Elme Communities $ELME

Argosy Lionbridge Management LLC reduced its position in shares of Elme Communities (NYSE:ELME) by 35.5% in the third quarter, HoldingsChannel.com reports. The firm owned 1,272,442 shares of the company’s stock after selling 700,408 shares during the period. Elme Communities comprises 14.1% of Argosy Lionbridge Management LLC’s investment portfolio, making the stock its 3rd largest position. Argosy Lionbridge Management LLC’s holdings in Elme Communities were worth $21,453,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ELME. Vanguard Group Inc. increased its holdings in Elme Communities by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 13,804,794 shares of the company’s stock valued at $232,749,000 after purchasing an additional 205,418 shares during the period. State Street Corp lifted its holdings in Elme Communities by 0.5% in the 2nd quarter. State Street Corp now owns 5,212,791 shares of the company’s stock worth $83,804,000 after buying an additional 27,877 shares during the period. Mangrove Partners IM LLC bought a new stake in shares of Elme Communities in the 3rd quarter worth approximately $34,485,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Elme Communities in the 3rd quarter worth approximately $29,035,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Elme Communities by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,265,951 shares of the company’s stock valued at $21,343,000 after buying an additional 35,816 shares during the period. 87.88% of the stock is owned by institutional investors.

Elme Communities Price Performance

Shares of NYSE ELME opened at $2.07 on Friday. Elme Communities has a 1 year low of $2.05 and a 1 year high of $17.68. The stock has a market capitalization of $183.50 million, a P/E ratio of -1.36 and a beta of 0.69. The company’s 50-day moving average is $3.29 and its 200 day moving average is $12.20. The company has a debt-to-equity ratio of 0.78, a current ratio of 166.32 and a quick ratio of 166.32.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Elme Communities in a report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently 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.