Arrowstreet Capital Limited Partnership boosted its holdings in shares of Elme Communities (NYSE:ELME - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,909 shares of the company's stock after acquiring an additional 25,185 shares during the period. Arrowstreet Capital Limited Partnership owned 0.44% of Elme Communities worth $5,862,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of Elme Communities by 97.0% in the fourth quarter. JPMorgan Chase & Co. now owns 814,233 shares of the company's stock worth $12,433,000 after acquiring an additional 400,834 shares during the period. Norges Bank purchased a new position in shares of Elme Communities in the fourth quarter valued at about $2,750,000. Barclays PLC boosted its stake in Elme Communities by 64.9% in the 3rd quarter. Barclays PLC now owns 177,438 shares of the company's stock worth $3,121,000 after purchasing an additional 69,835 shares during the period. LDR Capital Management LLC grew its stake in Elme Communities by 259.7% during the fourth quarter. LDR Capital Management LLC now owns 82,883 shares of the company's stock valued at $1,266,000 after acquiring an additional 59,840 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Elme Communities by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 760,381 shares of the company's stock worth $11,611,000 after buying an additional 57,563 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company's stock.
Elme Communities Stock Performance
ELME stock traded up $0.19 during midday trading on Friday, reaching $15.09. The stock had a trading volume of 488,342 shares, compared to its average volume of 586,736. The firm has a fifty day simple moving average of $16.62 and a two-hundred day simple moving average of $16.29. Elme Communities has a 52-week low of $13.95 and a 52-week high of $18.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58. The stock has a market cap of $1.33 billion, a PE ratio of -107.79 and a beta of 0.84.
Elme Communities (NYSE:ELME - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts anticipate that Elme Communities will post 0.94 EPS for the current year.
Elme Communities Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Wednesday, March 19th. Elme Communities's dividend payout ratio (DPR) is currently -514.29%.
Analyst Ratings Changes
ELME has been the topic of a number of research reports. Truist Financial upgraded shares of Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th. JPMorgan Chase & Co. lowered shares of Elme Communities from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $19.00 to $18.00 in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company raised their price objective on Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th.
Check Out Our Latest Research Report on Elme Communities
Elme Communities Profile
(
Free Report)
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.
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