Yakira Capital Management Inc. Grows Stock Position in Elme Communities $ELME

Yakira Capital Management Inc. increased its holdings in shares of Elme Communities (NYSE:ELME) by 231.2% during the 4th quarter, HoldingsChannel reports. The firm owned 475,322 shares of the company’s stock after purchasing an additional 331,810 shares during the period. Elme Communities comprises approximately 2.8% of Yakira Capital Management Inc.’s holdings, making the stock its 8th largest holding. Yakira Capital Management Inc.’s holdings in Elme Communities were worth $8,271,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Elme Communities by 39.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,235 shares of the company’s stock valued at $51,000 after purchasing an additional 922 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Elme Communities during the 4th quarter valued at about $66,000. US Bancorp DE lifted its holdings in shares of Elme Communities by 43.8% during the 3rd quarter. US Bancorp DE now owns 4,107 shares of the company’s stock valued at $69,000 after purchasing an additional 1,251 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Elme Communities during the 2nd quarter valued at about $70,000. Finally, Vestcor Inc bought a new position in shares of Elme Communities during the 3rd quarter valued at about $93,000. Institutional investors own 87.88% of the company’s stock.

Analyst Upgrades and Downgrades

ELME has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Elme Communities in a report on Friday, April 10th. BTIG Research reiterated a “neutral” rating on shares of Elme Communities in a report on Monday, April 6th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $18.00.

Elme Communities Stock Up 0.2%

Shares of Elme Communities stock opened at $2.04 on Monday. The business’s 50 day simple moving average is $2.08 and its 200 day simple moving average is $5.62. Elme Communities has a 52-week low of $1.98 and a 52-week high of $17.68. The firm has a market cap of $180.83 million, a PE ratio of -1.34 and a beta of 0.69. The company has a debt-to-equity ratio of 0.78, a quick ratio of 166.32 and a current ratio of 166.32.

About Elme Communities

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.