GABELLI & Co INVESTMENT ADVISERS INC. Has $1.17 Million Stock Holdings in Elme Communities $ELME

GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Elme Communities (NYSE:ELME) by 504.8% in the 1st quarter, Holdings Channel reports. The fund owned 579,640 shares of the company’s stock after buying an additional 483,800 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Elme Communities were worth $1,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ELME. KBC Group NV grew its holdings in shares of Elme Communities by 623.3% during the 1st quarter. KBC Group NV now owns 19,673 shares of the company’s stock valued at $40,000 after purchasing an additional 16,953 shares during the last quarter. Militia Capital Management LLC acquired a new position in shares of Elme Communities during the first quarter worth $46,000. EverSource Wealth Advisors LLC lifted its stake in shares of Elme Communities by 39.9% in the 2nd 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 shares of Elme Communities in the 4th quarter valued at $66,000. Finally, US Bancorp DE boosted its holdings 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 acquiring an additional 1,251 shares in the last quarter. Institutional investors own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ELME. BTIG Research reiterated a “neutral” rating on shares of Elme Communities in a research report on Monday, April 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Elme Communities in a report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Elme Communities from a “strong sell” rating to a “hold” rating in a research note on Saturday. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Elme Communities currently has a consensus rating of “Reduce” and a consensus target price of $18.00.

Elme Communities Price Performance

Elme Communities stock opened at $1.50 on Friday. The stock’s 50 day moving average is $1.80 and its 200 day moving average is $2.41. Elme Communities has a one year low of $1.26 and a one year high of $17.68. The firm has a market cap of $133.73 million, a P/E ratio of -0.99 and a beta of 0.73.

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.