State of Alaska Department of Revenue Has $1.62 Million Position in Elme Communities (NYSE:ELME)

State of Alaska Department of Revenue decreased its position in shares of Elme Communities (NYSE:ELME) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,950 shares of the company’s stock after selling 1,948 shares during the period. State of Alaska Department of Revenue owned about 0.10% of Elme Communities worth $1,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ELME. EverSource Wealth Advisors LLC increased its stake in shares of Elme Communities by 162.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock valued at $27,000 after purchasing an additional 1,100 shares during the last quarter. Archer Investment Corp grew its position in Elme Communities by 308.2% in the second quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock valued at $28,000 after acquiring an additional 1,350 shares during the last quarter. Fifth Third Bancorp raised its stake in Elme Communities by 438.1% during the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock worth $29,000 after acquiring an additional 1,494 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Elme Communities by 149.2% in the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after acquiring an additional 1,725 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Elme Communities by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after acquiring an additional 885 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Stock Down 2.3 %

NYSE:ELME opened at $16.48 on Friday. Elme Communities has a one year low of $12.73 and a one year high of $18.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $1.45 billion, a PE ratio of -26.58 and a beta of 0.89. The firm’s 50 day simple moving average is $17.40 and its 200 day simple moving average is $16.40.

Analyst Upgrades and Downgrades

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

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.