Nuveen Asset Management LLC Sells 444,986 Shares of Elme Communities (NYSE:ELME)

Nuveen Asset Management LLC lessened its holdings in Elme Communities (NYSE:ELME) by 30.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 995,646 shares of the company’s stock after selling 444,986 shares during the quarter. Nuveen Asset Management LLC owned 1.13% of Elme Communities worth $15,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELME. Argosy Lionbridge Management LLC bought a new stake in Elme Communities in the 4th quarter valued at $25,275,000. Northern Trust Corp boosted its stake in shares of Elme Communities by 54.9% in the 4th quarter. Northern Trust Corp now owns 1,510,239 shares of the company’s stock valued at $23,061,000 after purchasing an additional 535,440 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Elme Communities by 38.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,461,007 shares of the company’s stock valued at $22,310,000 after purchasing an additional 407,607 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Elme Communities by 97.0% in the 4th quarter. JPMorgan Chase & Co. now owns 814,233 shares of the company’s stock valued at $12,433,000 after purchasing an additional 400,834 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted 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 purchasing an additional 228,419 shares in the last quarter. Institutional investors own 87.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Elme Communities Stock Down 0.4%

Shares of NYSE:ELME opened at $15.64 on Monday. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58. The company’s fifty day moving average is $15.98 and its 200-day moving average is $16.00. 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 posted its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $61.31 million. During the same quarter last year, the company posted $0.23 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts predict that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 dividend on an annualized basis and a yield of 4.60%. Elme Communities’s payout ratio is -480.00%.

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.