D. E. Shaw & Co. Inc. Purchases 14,346 Shares of Elme Communities (NYSE:ELME)

D. E. Shaw & Co. Inc. lifted its position in Elme Communities (NYSE:ELME) by 62.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,262 shares of the company’s stock after purchasing an additional 14,346 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Elme Communities were worth $569,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Balyasny Asset Management L.P. raised its stake in shares of Elme Communities by 34.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 899,141 shares of the company’s stock valued at $13,730,000 after buying an additional 228,419 shares in the last quarter. Bank of America Corp DE raised its position in Elme Communities by 14.4% in the fourth quarter. Bank of America Corp DE now owns 360,951 shares of the company’s stock worth $5,512,000 after purchasing an additional 45,509 shares in the last quarter. Algert Global LLC acquired a new position in Elme Communities in the fourth quarter worth about $906,000. Northern Trust Corp lifted its stake in Elme Communities by 54.9% during the fourth quarter. Northern Trust Corp now owns 1,510,239 shares of the company’s stock worth $23,061,000 after purchasing an additional 535,440 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in Elme Communities during the fourth quarter valued at approximately $205,000. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Elme Communities Stock Down 0.4%

Shares of NYSE:ELME opened at $15.64 on Monday. The company’s fifty day moving average is $15.98 and its 200-day moving average is $16.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.49. The company has a market capitalization of $1.38 billion, a PE ratio of -111.71 and a beta of 0.96.

Elme Communities (NYSE:ELME) last released its quarterly 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. The firm had revenue of $61.49 million for the quarter, compared to analyst estimates of $61.31 million. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. Equities research analysts predict that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

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

Elme Communities 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.