Elme Communities (NYSE:ELME) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its position in shares of Elme Communities (NYSE:ELME) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 30,683 shares of the company’s stock after selling 1,239 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Elme Communities were worth $489,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of Elme Communities in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Elme Communities by 162.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after buying an additional 1,100 shares during the period. Fifth Third Bancorp increased its position in shares of Elme Communities by 438.1% in the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock worth $29,000 after acquiring an additional 1,494 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Elme Communities during the first quarter valued at approximately $167,000. Finally, Van ECK Associates Corp lifted its position in shares of Elme Communities by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 12,318 shares of the company’s stock valued at $180,000 after acquiring an additional 2,025 shares in the last quarter. Institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Performance

Shares of NYSE ELME opened at $17.69 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.55 and a quick ratio of 0.55. Elme Communities has a one year low of $12.44 and a one year high of $17.80. The business’s 50-day moving average price is $16.58 and its two-hundred day moving average price is $15.31. The company has a market capitalization of $1.56 billion, a P/E ratio of -29.00 and a beta of 0.90.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, September 19th. Elme Communities’s payout ratio is presently -118.03%.

Analyst Upgrades and Downgrades

Separately, Truist Financial boosted their target price on shares of Elme Communities from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, May 15th.

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.