Louisiana State Employees Retirement System Sells 1,800 Shares of Elme Communities (NYSE:ELME)

Louisiana State Employees Retirement System lessened its holdings in Elme Communities (NYSE:ELME) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,500 shares of the company’s stock after selling 1,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Elme Communities were worth $748,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in Elme Communities by 162.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after purchasing an additional 1,100 shares in the last quarter. Archer Investment Corp raised its holdings in shares of Elme Communities by 308.2% in the 2nd quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock worth $28,000 after buying an additional 1,350 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Elme Communities by 438.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock worth $29,000 after buying an additional 1,494 shares in the last quarter. GAMMA Investing LLC boosted its stake in Elme Communities by 149.2% in the 2nd 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 in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Elme Communities in the first quarter valued at $167,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

Elme Communities Stock Performance

Shares of NYSE:ELME opened at $16.70 on Tuesday. The business has a fifty day moving average of $17.40 and a 200-day moving average of $16.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.55. Elme Communities has a twelve month low of $12.74 and a twelve month high of $18.49. The firm has a market cap of $1.47 billion, a PE ratio of -26.58 and a beta of 0.89.

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.