SG Americas Securities LLC Sells 11,691 Shares of Elme Communities (NYSE:ELME)

SG Americas Securities LLC trimmed its position in Elme Communities (NYSE:ELME) by 34.3% in the 4th quarter, Holdings Channel reports. The firm owned 22,380 shares of the company’s stock after selling 11,691 shares during the quarter. SG Americas Securities LLC’s holdings in Elme Communities were worth $342,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Elme Communities by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after buying an additional 885 shares in the last quarter. KBC Group NV increased its stake in Elme Communities by 51.8% in the 3rd quarter. KBC Group NV now owns 4,526 shares of the company’s stock worth $80,000 after acquiring an additional 1,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Elme Communities in the 3rd quarter valued at about $86,000. Blue Trust Inc. boosted its position in shares of Elme Communities by 888.4% during the 3rd quarter. Blue Trust Inc. now owns 10,675 shares of the company’s stock valued at $188,000 after acquiring an additional 9,595 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Elme Communities by 9.5% during the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after purchasing an additional 1,000 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Trading Up 1.2 %

ELME stock opened at $15.30 on Wednesday. The company has a market capitalization of $1.35 billion, a PE ratio of -101.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.55 and a current ratio of 0.55. Elme Communities has a one year low of $12.74 and a one year high of $18.49. The company’s 50 day moving average price is $15.41 and its two-hundred day moving average price is $16.52.

Elme Communities (NYSE:ELME) last issued its earnings results on Monday, November 4th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.27). Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The business had revenue of $61.06 million during the quarter, compared to analysts’ expectations of $60.31 million. During the same quarter in the previous year, the business earned $0.24 EPS. Elme Communities’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts predict that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial upgraded shares of Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Wolfe Research assumed coverage on shares of Elme Communities in a report on Monday, October 21st. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. cut Elme Communities from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th.

Elme Communities 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.