Elme Communities (NYSE:ELME – Get Free Report) had its price target lowered by equities researchers at Wells Fargo & Company from $18.00 to $15.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.97% from the stock’s current price.
Separately, Truist Financial lowered their price objective on shares of Elme Communities from $19.00 to $18.00 in a research note on Wednesday, June 28th.
Elme Communities Trading Down 0.6 %
Hedge Funds Weigh In On Elme Communities
Hedge funds and other institutional investors have recently made changes to their positions in the stock. JFS Wealth Advisors LLC purchased a new stake in shares of Elme Communities during the second quarter worth approximately $28,000. US Bancorp DE purchased a new stake in shares of Elme Communities during the 1st quarter worth $29,000. Tower Research Capital LLC TRC purchased a new stake in shares of Elme Communities during the 1st quarter worth $29,000. Exchange Traded Concepts LLC acquired a new position in shares of Elme Communities during the second quarter worth $36,000. Finally, Belpointe Asset Management LLC purchased a new position in Elme Communities in the first quarter valued at $40,000. Hedge funds and other institutional investors own 88.48% of the company’s stock.
Elme Communities Company Profile
Elme Communities (formerly known as Washington Real Estate Investment Trust or WashREIT) 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 8,900 apartment homes in the Washington, DC metro and the Sunbelt, and owns approximately 300,000 square feet of commercial space.
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