Elme Communities (NYSE:ELME) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in Elme Communities (NYSE:ELME - Free Report) by 286.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,274 shares of the company's stock after acquiring an additional 49,865 shares during the period. Intech Investment Management LLC owned about 0.08% of Elme Communities worth $1,027,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ELME. KBC Group NV raised its stake in shares of Elme Communities by 51.8% during the 3rd quarter. KBC Group NV now owns 4,526 shares of the company's stock valued at $80,000 after buying an additional 1,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Elme Communities during the 3rd quarter worth approximately $86,000. Metis Global Partners LLC purchased a new position in shares of Elme Communities during the 4th quarter valued at approximately $154,000. Meridian Wealth Management LLC acquired a new position in shares of Elme Communities in the 4th quarter valued at $171,000. Finally, M&T Bank Corp boosted its holdings in Elme Communities by 9.5% during the third quarter. M&T Bank Corp now owns 11,525 shares of the company's stock worth $203,000 after buying an additional 1,000 shares in the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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Elme Communities Price Performance

Shares of ELME stock traded up $0.17 on Wednesday, reaching $17.35. 393,030 shares of the company were exchanged, compared to its average volume of 557,720. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -123.89 and a beta of 0.86. Elme Communities has a 1 year low of $13.30 and a 1 year high of $18.49. The business has a 50-day moving average price of $16.27 and a 200 day moving average price of $16.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58.

Elme Communities (NYSE:ELME - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.23 EPS for the quarter, beating 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%. Equities research analysts forecast that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.15%. Elme Communities's payout ratio is -514.29%.

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.