Newtyn Management LLC Purchases 2,189,739 Shares of Elme Communities $ELME

Newtyn Management LLC grew its position in Elme Communities (NYSE:ELME) by 705.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,500,000 shares of the company’s stock after purchasing an additional 2,189,739 shares during the quarter. Elme Communities comprises 0.5% of Newtyn Management LLC’s portfolio, making the stock its 27th biggest holding. Newtyn Management LLC’s holdings in Elme Communities were worth $3,700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bulldog Investors LLP acquired a new position in Elme Communities during the first quarter valued at approximately $4,020,000. Highbridge Capital Management LLC bought a new stake in Elme Communities during the fourth quarter worth $98,103,000. Yakira Capital Management Inc. boosted its holdings in shares of Elme Communities by 231.2% in the 4th quarter. Yakira Capital Management Inc. now owns 475,322 shares of the company’s stock valued at $8,271,000 after purchasing an additional 331,810 shares in the last quarter. NewGen Asset Management Ltd acquired a new stake in shares of Elme Communities in the 1st quarter valued at $1,159,000. Finally, Verition Fund Management LLC increased its stake in shares of Elme Communities by 17.0% in the 4th quarter. Verition Fund Management LLC now owns 2,315,319 shares of the company’s stock valued at $40,287,000 after purchasing an additional 337,185 shares during the last quarter. Institutional investors own 87.88% of the company’s stock.

Elme Communities Trading Down 0.3%

NYSE:ELME opened at $1.68 on Monday. The stock’s 50-day moving average is $1.61 and its 200-day moving average is $1.92. Elme Communities has a 1-year low of $1.26 and a 1-year high of $17.68. The stock has a market cap of $148.84 million, a P/E ratio of -1.10 and a beta of 0.72.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ELME shares. Weiss Ratings reissued a “sell (d)” rating on shares of Elme Communities in a report on Wednesday, July 8th. Wall Street Zen raised Elme Communities from a “strong sell” rating to a “hold” rating in a research note on Saturday, July 25th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Elme Communities presently has an average rating of “Reduce” and a consensus target price of $18.00.

Elme Communities 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.