Bayesian Capital Management LP Boosts Holdings in Elme Communities (NYSE:ELME)

Bayesian Capital Management LP boosted its position in shares of Elme Communities (NYSE:ELME) by 83.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,839 shares of the company’s stock after buying an additional 9,500 shares during the quarter. Bayesian Capital Management LP’s holdings in Elme Communities were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Thornburg Investment Management Inc. boosted its stake in shares of Elme Communities by 4.2% during the first quarter. Thornburg Investment Management Inc. now owns 2,455,668 shares of the company’s stock valued at $34,183,000 after purchasing an additional 100,000 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Elme Communities by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,186,343 shares of the company’s stock valued at $30,434,000 after purchasing an additional 28,717 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Elme Communities by 16.9% during the first quarter. William Blair Investment Management LLC now owns 1,950,033 shares of the company’s stock valued at $27,144,000 after purchasing an additional 281,199 shares during the period. Centersquare Investment Management LLC raised its holdings in shares of Elme Communities by 5.9% in the fourth quarter. Centersquare Investment Management LLC now owns 1,605,919 shares of the company’s stock valued at $23,446,000 after acquiring an additional 89,197 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Elme Communities by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,557,836 shares of the company’s stock valued at $22,744,000 after acquiring an additional 49,403 shares in the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Truist Financial lifted their price objective on Elme Communities from $15.00 to $16.00 and gave the company a “hold” rating in a report on Wednesday, May 15th.

Elme Communities Price Performance

ELME stock opened at $16.46 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.64 and a current ratio of 0.64. The business has a 50-day moving average price of $15.73 and a 200 day moving average price of $14.84. Elme Communities has a 1-year low of $12.44 and a 1-year high of $16.98.

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.