JPMorgan Chase & Co. Boosts Elme Communities (NYSE:ELME) Price Target to $19.00

Elme Communities (NYSE:ELME) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $17.00 to $19.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 3.60% from the company’s previous close.

Separately, Wells Fargo & Company upped their price target on Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday.

Elme Communities Trading Up 0.4 %

Shares of NYSE ELME traded up $0.08 during midday trading on Monday, reaching $18.34. The company had a trading volume of 79,101 shares, compared to its average volume of 597,470. Elme Communities has a one year low of $12.44 and a one year high of $18.45. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average price is $16.93 and its 200-day moving average price is $15.56. The stock has a market cap of $1.61 billion, a PE ratio of -30.07 and a beta of 0.90.

Hedge Funds Weigh In On Elme Communities

Several hedge funds and other institutional investors have recently modified their holdings of ELME. Victory Capital Management Inc. lifted its holdings in shares of Elme Communities by 11.8% during the 4th quarter. Victory Capital Management Inc. now owns 20,039 shares of the company’s stock valued at $293,000 after buying an additional 2,117 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Elme Communities by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,557,836 shares of the company’s stock worth $22,744,000 after purchasing an additional 49,403 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Elme Communities in the 4th quarter worth $364,000. Nomura Asset Management Co. Ltd. raised its holdings in Elme Communities by 1.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 99,300 shares of the company’s stock worth $1,450,000 after purchasing an additional 1,500 shares during the period. Finally, Evoke Wealth LLC bought a new position in Elme Communities in the 4th quarter worth $597,000. 87.88% of the stock is owned by institutional investors.

Elme Communities Company 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.