Public Employees Retirement System of Ohio Increases Stock Position in Elme Communities $ELME

Public Employees Retirement System of Ohio boosted its stake in shares of Elme Communities (NYSE:ELME) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,981 shares of the company’s stock after buying an additional 1,744 shares during the quarter. Public Employees Retirement System of Ohio owned 0.14% of Elme Communities worth $2,019,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Cbre Investment Management Listed Real Assets LLC boosted its stake in Elme Communities by 119.3% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,459,062 shares of the company’s stock worth $42,788,000 after buying an additional 1,337,974 shares during the period. Northern Trust Corp lifted its position in shares of Elme Communities by 2.7% during the first quarter. Northern Trust Corp now owns 1,550,363 shares of the company’s stock worth $26,976,000 after purchasing an additional 40,124 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Elme Communities during the first quarter worth about $16,613,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Elme Communities by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 638,149 shares of the company’s stock worth $11,104,000 after purchasing an additional 40,722 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Elme Communities by 2.7% during the first 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 in the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ELME shares. Wall Street Zen cut shares of Elme Communities from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Truist Financial reissued 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, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Elme Communities Stock Down 0.5%

Shares of NYSE:ELME opened at $16.82 on Friday. The firm’s 50 day moving average price is $16.68 and its 200 day moving average price is $16.27. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -112.09 and a beta of 1.01. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.08. 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 issued its earnings results on Tuesday, August 5th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $62.10 million for 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 firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company 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 fiscal year.

Elme Communities Dividend Announcement

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