This trade activity should not be overlooked: Elme Communities (ELME)

With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.6 million shares. During the session, the REIT – Residential company that operates in wider Real Estate sector, reached to the highest price of $14.35 whereas the lowest price it dropped to was $14.04. The 52-week range on ELME shows that it touched its highest point at $19.04 and its lowest point at $12.44 during that stretch. It currently has a 1-year price target of $15.67. With its current market cap of 1.25 billion, ELME has annualized dividend of $0.72 while the current yield stands at 5.07%. Beta for the stock currently stands at 0.95.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ELME was down-trending over the past week, with a drop of -1.93%, but this was down by -2.54% over a month. Three-month performance surged to 7.58% while six-month performance fell -9.16%. The stock lost -23.03% in the past year, while it has lost -2.74% so far this year. A look at the trailing 12-month EPS for ELME yields -0.61 with Next year EPS estimates of 0.06.

Float and Shares Shorts:

At present, 87.53 million ELME shares are outstanding with a float of 86.59 million shares on hand for trading. On Jan 11, 2024, short shares totaled 0.78 million, which was 0.89% higher than short shares on Dec 14, 2023. In addition to Mr. Paul T. McDermott as the firm’s Chairman of Board, President & CEO, Ms. Susan Lilly Gerock serves as its Senior VP of Information Technology & Chief Information Officer.

Institutional Ownership:

Through their ownership of 90.92% of ELME’s outstanding shares, institutional investors have majority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ELME since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ELME analysts setting a high price target of $18.00 and a low target of $14.00, the average target price over the next 12 months is $15.67. Based on these targets, ELME could surge 26.76% to reach the target high and fall by -1.41% to reach the target low. Reaching the average price target will result in a growth of 10.35% from current levels.

Summary of Insider Activity:

Insiders traded ELME stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 252,804 while 49,777 shares were sold.