Charles Schwab Investment Management Inc. Sells 28,234 Shares of Elme Communities $ELME

Charles Schwab Investment Management Inc. reduced its position in Elme Communities (NYSE:ELME) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,701,993 shares of the company’s stock after selling 28,234 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.93% of Elme Communities worth $29,615,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. 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 lifted 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 buying an additional 535,440 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings 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. Invesco Ltd. grew its position in shares of Elme Communities by 3.8% in the 4th quarter. Invesco Ltd. now owns 656,910 shares of the company’s stock valued at $10,031,000 after buying an additional 23,829 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Elme Communities by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 438,383 shares of the company’s stock worth $7,628,000 after purchasing an additional 11,581 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Elme Communities Stock Up 0.8%

Shares of NYSE:ELME opened at $16.8770 on Wednesday. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -112.51 and a beta of 0.98. The firm’s 50-day simple moving average is $16.16 and its 200-day simple moving average is $16.21. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.67. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.49.

Elme Communities (NYSE:ELME) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $62.10 million during the quarter, compared to analysts’ expectations of $61.63 million. Elme Communities had a negative net margin of 5.78% and a negative return on equity of 1.33%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. As a group, equities research analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Wednesday, September 17th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $0.72 annualized dividend and a dividend yield of 4.3%. Elme Communities’s dividend payout ratio is -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.