abrdn plc Buys 5,378 Shares of Elme Communities (NYSE:ELME)

abrdn plc lifted its stake in Elme Communities (NYSE:ELME) by 30.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,946 shares of the company’s stock after buying an additional 5,378 shares during the quarter. abrdn plc’s holdings in Elme Communities were worth $342,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Hunter Perkins Capital Management LLC lifted its stake in Elme Communities by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock worth $354,000 after purchasing an additional 875 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Elme Communities by 58.5% in the fourth quarter. Blue Trust Inc. now owns 16,917 shares of the company’s stock worth $258,000 after buying an additional 6,242 shares in the last quarter. Inspire Investing LLC boosted its stake in Elme Communities by 13.3% during the fourth quarter. Inspire Investing LLC now owns 26,536 shares of the company’s stock valued at $405,000 after buying an additional 3,117 shares during the last quarter. Tidal Investments LLC purchased a new position in Elme Communities during the 3rd quarter valued at approximately $377,000. Finally, Geode Capital Management LLC increased its stake in Elme Communities by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,234,902 shares of the company’s stock worth $39,319,000 after acquiring an additional 12,999 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ELME shares. JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $18.00 in a research report on Tuesday, December 17th. Truist Financial upgraded shares of Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Wolfe Research started coverage on shares of Elme Communities in a report on Monday, October 21st. They issued a “peer perform” rating on the stock.

Elme Communities Stock Performance

NYSE ELME opened at $15.52 on Wednesday. The company has a market cap of $1.37 billion, a P/E ratio of -103.46 and a beta of 0.91. The business’s 50 day moving average price is $15.29 and its 200-day moving average price is $16.49. Elme Communities has a fifty-two week low of $12.74 and a fifty-two week high of $18.49. 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 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.