IFM Investors Pty Ltd Sells 2,734 Shares of Elme Communities $ELME

IFM Investors Pty Ltd cut its position in shares of Elme Communities (NYSE:ELME) by 13.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,678 shares of the company’s stock after selling 2,734 shares during the quarter. IFM Investors Pty Ltd’s holdings in Elme Communities were worth $308,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ELME. Bank of America Corp DE grew its holdings in shares of Elme Communities by 14.4% during the fourth quarter. Bank of America Corp DE now owns 360,951 shares of the company’s stock worth $5,512,000 after buying an additional 45,509 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Elme Communities by 62.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 37,262 shares of the company’s stock worth $569,000 after buying an additional 14,346 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Elme Communities by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,043 shares of the company’s stock worth $764,000 after buying an additional 1,710 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Elme Communities by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 26,524 shares of the company’s stock worth $405,000 after buying an additional 8,162 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Elme Communities by 8.4% during the fourth quarter. Two Sigma Investments LP now owns 323,154 shares of the company’s stock worth $4,935,000 after buying an additional 25,003 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Truist Financial reiterated a “hold” rating on shares of Elme Communities in a report on Thursday. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Elme Communities presently has an average rating of “Hold” and a consensus price target of $18.50.

Elme Communities Stock Up 0.3%

NYSE:ELME opened at $17.13 on Friday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -114.19 and a beta of 1.02. Elme Communities has a twelve month low of $13.95 and a twelve month high of $18.49. The stock’s 50 day moving average price is $16.51 and its two-hundred day moving average price is $16.30. 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 (NYSE:ELME) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The firm had revenue of $62.10 million for the quarter, compared to analyst estimates of $61.63 million. During the same quarter in the previous year, the firm earned $0.23 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Wednesday, September 17th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 17th. Elme Communities’s dividend payout ratio (DPR) is presently -480.00%.

About Elme Communities

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.