Nisa Investment Advisors LLC Decreases Holdings in Elme Communities (NYSE:ELME)

Nisa Investment Advisors LLC reduced its stake in Elme Communities (NYSE:ELME) by 15.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 25,024 shares of the company’s stock after selling 4,747 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Elme Communities were worth $445,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in Elme Communities by 162.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after acquiring an additional 1,100 shares during the period. Archer Investment Corp raised its holdings in shares of Elme Communities by 308.2% in the 2nd quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock worth $28,000 after purchasing an additional 1,350 shares during the period. Fifth Third Bancorp lifted its stake in Elme Communities by 438.1% in the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock valued at $29,000 after purchasing an additional 1,494 shares during the last quarter. GAMMA Investing LLC lifted its stake in Elme Communities by 149.2% in the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $46,000 after purchasing an additional 1,725 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Elme Communities by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock valued at $60,000 after purchasing an additional 885 shares during the period. Institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Up 1.2 %

ELME stock opened at $16.90 on Wednesday. The stock has a 50-day simple moving average of $17.38 and a two-hundred day simple moving average of $16.46. Elme Communities has a twelve month low of $12.74 and a twelve month high of $18.49. The firm has a market capitalization of $1.49 billion, a PE ratio of -27.25 and a beta of 0.89. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.61.

Analysts Set New Price Targets

A number of brokerages have recently commented on ELME. Wolfe Research started coverage on Elme Communities in a research report on Monday, October 21st. They set a “peer perform” rating on the stock. Wells Fargo & Company upped their price objective on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. increased their target price on Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th.

Elme Communities 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.