Nisa Investment Advisors LLC Has $445,000 Stock Position in Elme Communities (NYSE:ELME)

Nisa Investment Advisors LLC cut its position in Elme Communities (NYSE:ELME) by 15.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,024 shares of the company’s stock after selling 4,747 shares during the period. Nisa Investment Advisors LLC’s holdings in Elme Communities were worth $445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ELME. EverSource Wealth Advisors LLC grew its position in Elme Communities by 162.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock valued at $27,000 after purchasing an additional 1,100 shares during the period. Archer Investment Corp grew its holdings in shares of Elme Communities by 308.2% during the second quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock valued at $28,000 after buying an additional 1,350 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Elme Communities by 438.1% during the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock worth $29,000 after acquiring an additional 1,494 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Elme Communities by 149.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after acquiring an additional 1,725 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Elme Communities by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock valued at $60,000 after acquiring an additional 885 shares in the last quarter. 87.88% of the stock is owned by institutional investors.

Elme Communities Trading Up 1.2 %

Shares of ELME stock opened at $16.90 on Wednesday. Elme Communities has a 52-week low of $12.74 and a 52-week high of $18.49. The company has a 50-day simple moving average of $17.38 and a two-hundred day simple moving average of $16.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -27.25 and a beta of 0.89.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ELME shares. Wells Fargo & Company boosted their price objective on Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. JPMorgan Chase & Co. upped their price target on Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Wolfe Research started coverage on Elme Communities in a research report on Monday, October 21st. They issued a “peer perform” rating for the company.

Elme Communities Company Profile

Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The Company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space.