Nisa Investment Advisors LLC Sells 916 Shares of Elme Communities (NYSE:ELME)

Nisa Investment Advisors LLC reduced its position in shares of Elme Communities (NYSE:ELME) by 4.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,814 shares of the company’s stock after selling 916 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Elme Communities were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Argosy Lionbridge Management LLC acquired a new position in shares of Elme Communities during the 4th quarter worth about $25,275,000. Northern Trust Corp grew its position 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 during the period. Renaissance Technologies LLC grew its position 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 during the period. JPMorgan Chase & Co. grew its position 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 during the period. Finally, Balyasny Asset Management L.P. grew its position 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 period. 87.88% of the stock is owned by institutional investors.

Elme Communities Price Performance

Shares of ELME opened at $16.45 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50 day simple moving average of $16.08 and a 200 day simple moving average of $15.98. Elme Communities has a 52-week low of $13.95 and a 52-week high of $18.49. The firm has a market capitalization of $1.45 billion, a PE ratio of -109.63 and a beta of 0.97.

Elme Communities (NYSE:ELME) last issued its quarterly earnings data 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. Elme Communities had a negative return on equity of 1.30% and a negative net margin of 5.79%. The business had revenue of $61.49 million during the quarter, compared to analyst estimates of $61.31 million. During the same period in the previous year, the firm earned $0.23 EPS. Elme Communities’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Tuesday, June 17th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.72 annualized dividend and a dividend yield of 4.38%. Elme Communities’s dividend payout ratio is presently -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.