Short Interest in Elme Communities (NYSE:ELME) Expands By 65.0%

Elme Communities (NYSE:ELME) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 4,412,926 shares, a growth of 65.0% from the December 31st total of 2,675,112 shares. Based on an average daily trading volume, of 9,745,233 shares, the short-interest ratio is presently 0.5 days. Approximately 5.1% of the company’s shares are sold short. Approximately 5.1% of the company’s shares are sold short. Based on an average daily trading volume, of 9,745,233 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On Elme Communities

A number of hedge funds have recently bought and sold shares of ELME. Vanderbilt University bought a new position in shares of Elme Communities in the third quarter worth about $1,078,000. Prudential Financial Inc. increased its holdings in Elme Communities by 27.2% in the 2nd quarter. Prudential Financial Inc. now owns 279,382 shares of the company’s stock worth $4,442,000 after acquiring an additional 59,744 shares in the last quarter. Wolverine Asset Management LLC raised its stake in Elme Communities by 306.6% during the 3rd quarter. Wolverine Asset Management LLC now owns 574,937 shares of the company’s stock worth $9,693,000 after acquiring an additional 433,548 shares during the period. Waterfall Asset Management LLC purchased a new position in Elme Communities during the second quarter valued at approximately $2,583,000. Finally, Barings LLC purchased a new stake in shares of Elme Communities in the second quarter worth $770,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Analyst Ratings Changes

ELME has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Elme Communities from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Elme Communities in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Elme Communities currently has an average rating of “Reduce” and an average price target of $18.50.

Elme Communities Stock Up 1.4%

NYSE:ELME opened at $2.21 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s 50-day moving average price is $12.40 and its 200-day moving average price is $15.16. The company has a market capitalization of $194.83 million, a PE ratio of -1.45 and a beta of 0.79. Elme Communities has a 1-year low of $2.10 and a 1-year high of $18.08.

Elme Communities Company Profile

Elme Communities, Inc is a real estate investment trust (REIT) specializing in senior living real estate. The company focuses on acquiring and strategically partnering in a diversified portfolio of senior housing communities, providing real estate solutions across the spectrum of independent living, assisted living and memory care facilities. Elme Communities leases properties to experienced operators under long-term contractual arrangements designed to generate stable rental income and align incentives for both landlord and operator.

The company’s core activities include identifying acquisition opportunities, underwriting property performance, structuring lease agreements and overseeing asset management functions.