HGI Capital Management LLC Decreases Stock Holdings in Elme Communities (NYSE:ELME)

HGI Capital Management LLC reduced its position in Elme Communities (NYSE:ELME - Free Report) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,225,520 shares of the company's stock after selling 344,434 shares during the period. Elme Communities comprises approximately 34.1% of HGI Capital Management LLC's holdings, making the stock its largest position. HGI Capital Management LLC owned approximately 2.53% of Elme Communities worth $39,147,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. FMR LLC lifted its position in Elme Communities by 3.1% in the 3rd quarter. FMR LLC now owns 5,637,288 shares of the company's stock worth $99,160,000 after buying an additional 171,486 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Elme Communities by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,124,355 shares of the company's stock worth $37,367,000 after purchasing an additional 20,555 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Elme Communities by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,212 shares of the company's stock valued at $30,241,000 after buying an additional 53,505 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Elme Communities by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,259,876 shares of the company's stock valued at $20,069,000 after purchasing an additional 17,387 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Elme Communities by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company's stock valued at $16,508,000 after buying an additional 69,014 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company's stock.

Wall Street Analysts Forecast Growth

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

Elme Communities Price Performance

Shares of ELME stock traded up $0.01 during mid-day trading on Friday, reaching $16.96. The company's stock had a trading volume of 424,532 shares, compared to its average volume of 585,993. The firm's 50-day moving average is $17.00 and its two-hundred day moving average is $16.61. The company has a market cap of $1.49 billion, a P/E ratio of -112.99 and a beta of 0.89. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.55 and a current ratio of 0.55.

Elme Communities (NYSE:ELME - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $60.31 million. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS. On average, research analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 19th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, December 19th. Elme Communities's dividend payout ratio is -479.97%.

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.