Centiva Capital LP Makes New $826,000 Investment in Elme Communities (NYSE:ELME)

Centiva Capital LP acquired a new stake in shares of Elme Communities (NYSE:ELME - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 46,968 shares of the company's stock, valued at approximately $826,000. Centiva Capital LP owned about 0.05% of Elme Communities as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Archer Investment Corp raised its holdings in shares of Elme Communities by 308.2% in the second quarter. Archer Investment Corp now owns 1,788 shares of the company's stock worth $28,000 after buying an additional 1,350 shares during the period. Fifth Third Bancorp increased its stake in Elme Communities by 438.1% in the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company's stock worth $29,000 after purchasing an additional 1,494 shares during the period. GAMMA Investing LLC lifted its position in shares of Elme Communities by 149.2% during the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company's stock worth $46,000 after purchasing an additional 1,725 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Elme Communities by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company's stock valued at $60,000 after purchasing an additional 885 shares during the period. Finally, KBC Group NV grew its holdings in shares of Elme Communities by 51.8% in the third quarter. KBC Group NV now owns 4,526 shares of the company's stock worth $80,000 after purchasing an additional 1,544 shares during the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Price Performance

ELME stock traded up $0.14 during mid-day trading on Friday, reaching $16.72. 379,143 shares of the company's stock were exchanged, compared to its average volume of 552,818. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -111.46 and a beta of 0.89. Elme Communities has a 12-month low of $12.74 and a 12-month high of $18.49. The stock's 50 day moving average is $16.87 and its 200 day moving average is $16.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55.

Elme Communities (NYSE:ELME - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). The business had revenue of $61.06 million for the quarter, compared to analysts' expectations of $60.31 million. Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The firm's revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. On average, research analysts expect that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, December 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.31%. Elme Communities's dividend payout ratio is presently -479.97%.

Analyst Ratings Changes

Several brokerages recently issued reports on ELME. JPMorgan Chase & Co. boosted their target price on shares of Elme Communities from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Wolfe Research initiated coverage on shares of Elme Communities in a research report on Monday, October 21st. They set a "peer perform" rating for the company. Finally, Wells Fargo & Company lifted their price target on shares of Elme Communities from $14.00 to $17.00 and gave the stock an "equal weight" rating in a report on Friday, September 13th.

Elme Communities Company 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.