Verition Fund Management LLC Has $40.29 Million Stock Holdings in Elme Communities $ELME

Verition Fund Management LLC increased its position in shares of Elme Communities (NYSE:ELME) by 17.0% during the 4th quarter, Holdings Channel reports. The fund owned 2,315,319 shares of the company’s stock after buying an additional 337,185 shares during the quarter. Verition Fund Management LLC’s holdings in Elme Communities were worth $40,287,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Highbridge Capital Management LLC bought a new stake in Elme Communities in the fourth quarter valued at approximately $98,103,000. Mangrove Partners IM LLC bought a new position in shares of Elme Communities during the third quarter worth $34,485,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Elme Communities during the third quarter worth $29,035,000. Irenic Capital Management LP acquired a new position in shares of Elme Communities in the 3rd quarter valued at $28,660,000. Finally, DSC Meridian Capital LP acquired a new position in shares of Elme Communities in the 3rd quarter valued at $9,156,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Elme Communities Trading Up 0.2%

Shares of NYSE:ELME opened at $2.04 on Monday. Elme Communities has a 12 month low of $1.98 and a 12 month high of $17.68. The company has a quick ratio of 166.32, a current ratio of 166.32 and a debt-to-equity ratio of 0.78. The company’s fifty day simple moving average is $2.08 and its 200 day simple moving average is $5.62. The firm has a market cap of $180.83 million, a price-to-earnings ratio of -1.34 and a beta of 0.69.

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.