Elme Communities (NYSE:ELME) PT Raised to $19.00 at JPMorgan Chase & Co.

Elme Communities (NYSE:ELME) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $17.00 to $19.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 4.83% from the company’s previous close.

Separately, Wells Fargo & Company upped their target price on Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th.

Elme Communities Stock Down 0.5 %

Shares of NYSE:ELME opened at $18.13 on Monday. Elme Communities has a 52-week low of $12.44 and a 52-week high of $18.45. The company has a market capitalization of $1.60 billion, a PE ratio of -29.71 and a beta of 0.90. 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 fifty day moving average of $16.99 and a 200-day moving average of $15.59.

Institutional Trading of Elme Communities

Institutional investors and hedge funds have recently bought and sold shares of the stock. Centersquare Investment Management LLC increased its position in Elme Communities by 5.9% during the 4th quarter. Centersquare Investment Management LLC now owns 1,605,919 shares of the company’s stock valued at $23,446,000 after purchasing an additional 89,197 shares during the period. HGI Capital Management LLC acquired a new position in Elme Communities in the fourth quarter valued at $3,289,000. Lighthouse Investment Partners LLC acquired a new position in Elme Communities in the fourth quarter valued at $3,942,000. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Elme Communities by 520.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 463,942 shares of the company’s stock valued at $6,774,000 after buying an additional 389,207 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Elme Communities by 149.2% in the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $46,000 after buying an additional 1,725 shares during the period. 87.88% of the stock is currently owned by institutional investors and hedge funds.

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.