Handelsbanken Fonder AB Sells 1,200 Shares of Elme Communities (NYSE:ELME)

Handelsbanken Fonder AB lessened its stake in Elme Communities (NYSE:ELME) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,983 shares of the company’s stock after selling 1,200 shares during the period. Handelsbanken Fonder AB’s holdings in Elme Communities were worth $365,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Argosy Lionbridge Management LLC bought a new stake in shares of Elme Communities during the fourth quarter worth $25,275,000. Northern Trust Corp raised its holdings in Elme Communities by 54.9% during the 4th 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 last quarter. Renaissance Technologies LLC raised its holdings in Elme Communities by 38.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,461,007 shares of the company’s stock worth $22,310,000 after purchasing an additional 407,607 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Elme Communities by 97.0% during 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 during the period. 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 during the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Stock Down 1.8%

Shares of NYSE ELME opened at $16.38 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 stock has a market cap of $1.44 billion, a P/E ratio of -117.00 and a beta of 0.98. The firm has a 50 day moving average price of $15.79 and a 200 day moving average price of $15.96.

Elme Communities (NYSE:ELME) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $61.49 million during 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 firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Analysts expect that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Tuesday, June 17th. Elme Communities’s dividend payout ratio is currently -480.00%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company boosted their price target 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.