Teacher Retirement System of Texas Lowers Stock Holdings in Elme Communities (NYSE:ELME)

Teacher Retirement System of Texas cut its holdings in Elme Communities (NYSE:ELME) by 47.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,866 shares of the company’s stock after selling 11,425 shares during the quarter. Teacher Retirement System of Texas’ holdings in Elme Communities were worth $224,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ELME. Sterling Capital Management LLC increased its stake in 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 acquiring an additional 2,511 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Elme Communities by 6,041.7% in the fourth quarter. NewEdge Advisors LLC now owns 10,748 shares of the company’s stock worth $164,000 after buying an additional 10,573 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Elme Communities in the fourth quarter worth about $180,000. Tudor Investment Corp ET AL purchased a new stake in shares of Elme Communities in the fourth quarter worth about $205,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Elme Communities in the fourth quarter worth about $253,000. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Trading Down 1.0%

NYSE:ELME opened at $16.22 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $16.09 and its two-hundred day moving average is $16.00. The company has a market cap of $1.43 billion, a PE ratio of -108.13 and a beta of 0.97. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.49.

Elme Communities (NYSE:ELME) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $61.49 million for the quarter, compared to analysts’ expectations of $61.31 million. Elme Communities had a negative return on equity of 1.30% and a negative net margin of 5.79%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. On average, analysts predict that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Tuesday, June 17th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Tuesday, June 17th. Elme Communities’s dividend payout ratio (DPR) 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.