Elme Communities $ELME Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lessened its position in shares of Elme Communities (NYSE:ELME) by 20.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,133 shares of the company’s stock after selling 3,545 shares during the quarter. IFM Investors Pty Ltd’s holdings in Elme Communities were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELME. GAMMA Investing LLC grew its position in shares of Elme Communities by 1,505.2% in the first quarter. GAMMA Investing LLC now owns 53,888 shares of the company’s stock valued at $938,000 after purchasing an additional 50,531 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its position in shares of Elme Communities by 119.3% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,459,062 shares of the company’s stock valued at $42,788,000 after purchasing an additional 1,337,974 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Elme Communities in the first quarter valued at about $924,000. Bank of America Corp DE grew its position in shares of Elme Communities by 14.4% in the fourth quarter. Bank of America Corp DE now owns 360,951 shares of the company’s stock valued at $5,512,000 after purchasing an additional 45,509 shares during the period. Finally, Two Sigma Investments LP grew its position in shares of Elme Communities by 8.4% in the fourth quarter. Two Sigma Investments LP now owns 323,154 shares of the company’s stock valued at $4,935,000 after purchasing an additional 25,003 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial reiterated a “hold” rating on shares of Elme Communities in a research report on Thursday, September 11th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.50.

Elme Communities Stock Down 0.7%

ELME stock opened at $16.81 on Wednesday. The company has a fifty day moving average price of $16.60 and a 200 day moving average price of $16.28. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.08. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -112.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.51 and a quick ratio of 0.51.

Elme Communities (NYSE:ELME) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Elme Communities had a negative net margin of 5.78% and a negative return on equity of 1.33%. The firm had revenue of $62.10 million during the quarter, compared to the consensus estimate of $61.63 million. During the same quarter in the prior year, the firm earned $0.23 EPS. Elme Communities’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts expect that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

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