Elme CommunitiesELME
Market Cap: $1.57B
About: Elme Communities is a real estate investment trust engaged in owning and operating properties in the greater Washington DC metropolitan area. The company's real estate portfolio is comprised of office, retail, and multifamily properties located near transportation nodes. Washington REIT derives nearly all of its income in the form of rental revenue from tenants organized into long-term leases. The company's office assets contribute the majority of this income, while the rest is split fairly evenly between its retail and multifamily locations. Washington REIT's tenants are banking, consulting, law, and financial services firms.
Employees: 243
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
12% more capital invested
Capital invested by funds: $1.09B [Q1] → $1.23B (+$133M) [Q2]
6% more first-time investments, than exits
New positions opened: 35 | Existing positions closed: 33
1% more funds holding
Funds holding: 223 [Q1] → 225 (+2) [Q2]
0.18% more ownership
Funds ownership: 87.36% [Q1] → 87.54% (+0.18%) [Q2]
0% more repeat investments, than reductions
Existing positions increased: 76 | Existing positions reduced: 76
67% less funds holding in top 10
Funds holding in top 10: 3 [Q1] → 1 (-2) [Q2]
87% less call options, than puts
Call options by funds: $182K | Put options by funds: $1.44M
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
JP Morgan Anthony Paolone 65% 1-year accuracy 11 / 17 met price target | 7%upside $19 | Overweight Maintained | 16 Sept 2024 |
Wells Fargo Blaine Heck 67% 1-year accuracy 8 / 12 met price target | 4%downside $17 | Equal-Weight Maintained | 13 Sept 2024 |