Elme Communities $ELME Stake Cut by Wolverine Asset Management LLC

Wolverine Asset Management LLC cut its position in shares of Elme Communities (NYSE:ELME) by 40.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 343,832 shares of the company’s stock after selling 231,105 shares during the period. Wolverine Asset Management LLC’s holdings in Elme Communities were worth $5,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp increased its position in Elme Communities by 6.0% in the third quarter. Atlantic Union Bankshares Corp now owns 12,455 shares of the company’s stock worth $210,000 after buying an additional 702 shares during the period. PNC Financial Services Group Inc. increased its position in Elme Communities by 7.5% in the third quarter. PNC Financial Services Group Inc. now owns 11,661 shares of the company’s stock worth $197,000 after buying an additional 810 shares during the period. Verdence Capital Advisors LLC increased its position in Elme Communities by 3.5% in the third quarter. Verdence Capital Advisors LLC now owns 23,872 shares of the company’s stock worth $396,000 after buying an additional 814 shares during the period. Amalgamated Bank increased its position in Elme Communities by 3.3% in the third quarter. Amalgamated Bank now owns 26,005 shares of the company’s stock worth $438,000 after buying an additional 836 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Elme Communities by 39.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock worth $51,000 after buying an additional 922 shares during the period. 87.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elme Communities in a research report on Friday, April 10th. BTIG Research reaffirmed a “neutral” rating on shares of Elme Communities in a research report on Monday, April 6th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Elme Communities currently has an average rating of “Reduce” and an average price target of $18.00.

Elme Communities Price Performance

Shares of NYSE ELME opened at $2.17 on Monday. Elme Communities has a 1-year low of $1.98 and a 1-year high of $17.68. The company has a debt-to-equity ratio of 0.78, a current ratio of 166.32 and a quick ratio of 166.32. The business’s fifty day moving average price is $2.11 and its two-hundred day moving average price is $8.62. The firm has a market capitalization of $192.38 million, a PE ratio of -1.42 and a beta of 0.71.

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.