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 fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 22,380 shares of the company’s stock after selling 11,691 shares during the period. SG Americas Securities LLC’s holdings in Elme Communities were worth $342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC lifted its holdings in Elme Communities by 5.7% during the third quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company’s stock worth $282,000 after acquiring an additional 867 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 worth $60,000 after buying an additional 885 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Elme Communities by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company’s stock valued at $2,239,000 after buying an additional 954 shares during the period. M&T Bank Corp raised its position in Elme Communities by 9.5% in the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after acquiring an additional 1,000 shares during the period. Finally, Inspire Investing LLC raised its position in Elme Communities by 5.9% in the third quarter. Inspire Investing LLC now owns 23,419 shares of the company’s stock worth $412,000 after acquiring an additional 1,300 shares during the period. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Up 1.2 %

ELME opened at $15.30 on Wednesday. Elme Communities has a 12 month low of $12.74 and a 12 month high of $18.49. The company has a market cap of $1.35 billion, a PE ratio of -101.99 and a beta of 0.91. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $15.41 and a 200 day moving average of $16.52.

Elme Communities (NYSE:ELME) last posted its earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $61.06 million for the quarter, compared to analysts’ expectations of $60.31 million. During the same quarter in the prior year, the company earned $0.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Elme Communities will post 0.94 EPS for the current year.

Wall Street Analyst Weigh In

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