Amundi Buys 26,793 Shares of Elme Communities (NYSE:ELME)

Amundi boosted its stake in shares of Elme Communities (NYSE:ELME - Free Report) by 41.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,881 shares of the company's stock after buying an additional 26,793 shares during the period. Amundi owned about 0.10% of Elme Communities worth $1,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV raised its holdings in Elme Communities by 51.8% during the 3rd quarter. KBC Group NV now owns 4,526 shares of the company's stock worth $80,000 after buying an additional 1,544 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Elme Communities in the 3rd quarter valued at about $86,000. Metis Global Partners LLC acquired a new position in shares of Elme Communities in the 4th quarter valued at about $154,000. Meridian Wealth Management LLC acquired a new position in shares of Elme Communities in the 4th quarter valued at about $171,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Elme Communities in the 4th quarter valued at about $180,000. Institutional investors and hedge funds own 87.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ELME. Wells Fargo & Company upped their target price on Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Truist Financial upgraded Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. downgraded Elme Communities from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $19.00 to $18.00 in a report on Tuesday, December 17th.

Remove Ads

Elme Communities Stock Down 0.1 %

NYSE:ELME traded down $0.02 during mid-day trading on Friday, reaching $17.08. The stock had a trading volume of 1,230,331 shares, compared to its average volume of 558,567. The business's 50 day moving average is $16.16 and its 200 day moving average is $16.49. Elme Communities has a fifty-two week low of $13.30 and a fifty-two week high of $18.49. The stock has a market cap of $1.50 billion, a P/E ratio of -121.96 and a beta of 0.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55.

Elme Communities (NYSE:ELME - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. As a group, sell-side analysts predict 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 Thursday, April 3rd. Investors of record on Wednesday, March 19th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.22%. Elme Communities's dividend payout ratio is currently -514.29%.

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.