Elme Communities (NYSE:ELME) Price Target Increased to $19.00 by Analysts at JPMorgan Chase & Co.

Elme Communities (NYSE:ELME) had its price target raised by investment analysts at JPMorgan Chase & Co. from $17.00 to $19.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 4.83% from the stock’s current price.

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

Elme Communities Price Performance

ELME stock opened at $18.13 on Monday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -29.71 and a beta of 0.90. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.61. Elme Communities has a 12-month low of $12.44 and a 12-month high of $18.45. The company’s fifty day simple moving average is $16.99 and its 200 day simple moving average is $15.59.

Institutional Investors Weigh In On Elme Communities

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC raised its holdings in shares of Elme Communities by 37.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 175,037 shares of the company’s stock worth $2,788,000 after acquiring an additional 47,859 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Elme Communities by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 74,951 shares of the company’s stock worth $1,194,000 after acquiring an additional 2,257 shares during the last quarter. DigitalBridge Group Inc. acquired a new stake in shares of Elme Communities in the 2nd quarter worth about $8,132,000. Caxton Associates LP boosted its holdings in Elme Communities by 35.7% during the second quarter. Caxton Associates LP now owns 56,592 shares of the company’s stock worth $902,000 after purchasing an additional 14,893 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Elme Communities in the 2nd quarter worth approximately $1,419,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

About Elme Communities

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.