BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys New Stake in Elme Communities $ELME

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Elme Communities (NYSE:ELME) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,543 shares of the company’s stock, valued at approximately $104,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aberdeen Group plc increased its stake in Elme Communities by 3.6% during the 1st quarter. Aberdeen Group plc now owns 23,774 shares of the company’s stock worth $414,000 after buying an additional 828 shares during the period. Verdence Capital Advisors LLC increased its stake in Elme Communities by 4.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 23,058 shares of the company’s stock worth $367,000 after buying an additional 934 shares during the period. PNC Financial Services Group Inc. increased its stake in Elme Communities by 12.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company’s stock worth $177,000 after buying an additional 1,164 shares during the period. CWM LLC increased its stake in Elme Communities by 240.1% during the 2nd quarter. CWM LLC now owns 2,078 shares of the company’s stock worth $33,000 after buying an additional 1,467 shares during the period. Finally, LDR Capital Management LLC increased its stake in Elme Communities by 1.9% during the 2nd quarter. LDR Capital Management LLC now owns 80,207 shares of the company’s stock worth $1,275,000 after buying an additional 1,504 shares during the period. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Price Performance

ELME opened at $16.67 on Thursday. The company has a 50-day moving average of $16.83 and a 200-day moving average of $16.36. The company has a market capitalization of $1.47 billion, a P/E ratio of -10.96 and a beta of 0.97. Elme Communities has a 1-year low of $13.95 and a 1-year high of $18.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 0.54.

Elme Communities (NYSE:ELME) last released its earnings results on Thursday, October 23rd. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Elme Communities had a negative return on equity of 13.15% and a negative net margin of 54.57%.The company had revenue of $62.10 million during the quarter, compared to the consensus estimate of $62.17 million. During the same period in the previous year, the firm posted $0.23 EPS. Elme Communities’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Elme Communities in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Elme Communities from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 21st. Truist Financial reissued a “hold” rating on shares of Elme Communities in a research report on Thursday, September 11th. Finally, Wall Street Zen downgraded shares of Elme Communities from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Elme Communities has a consensus rating of “Hold” and a consensus target price of $18.50.

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.