Mirae Asset Global Investments Co. Ltd. Buys 885 Shares of Elme Communities (NYSE:ELME)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Elme Communities (NYSE:ELME) by 35.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,416 shares of the company’s stock after purchasing an additional 885 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Elme Communities were worth $60,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ELME. V3 Capital Management L.P. bought a new position in shares of Elme Communities in the 1st quarter worth $13,738,000. DigitalBridge Group Inc. bought a new position in Elme Communities during the second quarter worth about $8,132,000. Hunter Perkins Capital Management LLC lifted its holdings in Elme Communities by 990.8% during the second quarter. Hunter Perkins Capital Management LLC now owns 325,865 shares of the company’s stock worth $5,224,000 after acquiring an additional 295,990 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Elme Communities by 16.9% during the first quarter. William Blair Investment Management LLC now owns 1,950,033 shares of the company’s stock worth $27,144,000 after acquiring an additional 281,199 shares in the last quarter. Finally, Anson Funds Management LP bought a new position in Elme Communities during the first quarter worth about $2,233,000. 87.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Elme Communities Stock Performance

ELME opened at $16.90 on Wednesday. The business’s 50-day moving average price is $17.38 and its two-hundred day moving average price is $16.46. Elme Communities has a 1 year low of $12.74 and a 1 year high of $18.49. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -27.25 and a beta of 0.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.55 and a quick ratio of 0.55.

Elme Communities Company 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.