Elme Communities (NYSE:ELME) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lowered its position in Elme Communities (NYSE:ELME) by 48.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,504 shares of the company’s stock after selling 107,485 shares during the period. Deutsche Bank AG owned about 0.13% of Elme Communities worth $1,764,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ELME. Sterling Capital Management LLC increased its stake in shares of Elme Communities by 817.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company’s stock worth $43,000 after purchasing an additional 2,511 shares in the last quarter. Metis Global Partners LLC purchased a new position in Elme Communities in the fourth quarter worth approximately $154,000. NewEdge Advisors LLC raised its holdings in Elme Communities by 6,041.7% in the 4th quarter. NewEdge Advisors LLC now owns 10,748 shares of the company’s stock valued at $164,000 after buying an additional 10,573 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Elme Communities in the 4th quarter worth approximately $171,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Elme Communities during the fourth quarter worth $180,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Performance

NYSE:ELME opened at $15.64 on Friday. The firm has a market capitalization of $1.38 billion, a PE ratio of -111.71 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55. The business’s fifty day moving average price is $15.98 and its 200 day moving average price is $16.02. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.49.

Elme Communities (NYSE:ELME) last posted its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. The firm had revenue of $61.49 million for the quarter, compared to the consensus estimate of $61.31 million. During the same period last year, the firm posted $0.23 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Tuesday, June 17th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.72 annualized dividend and a yield of 4.60%. Elme Communities’s dividend payout ratio (DPR) is -480.00%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their target price on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th.

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.