Centersquare Investment Management LLC Purchases 56,400 Shares of Elme Communities (NYSE:ELME)

Centersquare Investment Management LLC lifted its stake in shares of Elme Communities (NYSE:ELME - Free Report) by 105.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,800 shares of the company's stock after purchasing an additional 56,400 shares during the period. Centersquare Investment Management LLC owned approximately 0.12% of Elme Communities worth $1,677,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Elme Communities in the 3rd quarter valued at $86,000. Metis Global Partners LLC bought a new position in Elme Communities in the fourth quarter valued at about $154,000. Meridian Wealth Management LLC acquired a new stake in Elme Communities in the fourth quarter worth about $171,000. Proficio Capital Partners LLC bought a new stake in Elme Communities during the 4th quarter worth about $180,000. Finally, M&T Bank Corp lifted its position in Elme Communities by 10.1% during the 4th quarter. M&T Bank Corp now owns 12,691 shares of the company's stock valued at $194,000 after purchasing an additional 1,166 shares during the period. 87.88% of the stock is owned by institutional investors.

Elme Communities Trading Down 1.2 %

Shares of NYSE ELME traded down $0.18 during midday trading on Wednesday, reaching $14.51. 180,633 shares of the stock were exchanged, compared to its average volume of 591,028. Elme Communities has a 12 month low of $13.96 and a 12 month high of $18.49. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -103.68 and a beta of 0.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55. The business has a 50-day simple moving average of $16.63 and a two-hundred day simple moving average of $16.36.

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Elme Communities (NYSE:ELME - Get Free Report) last announced its quarterly earnings results 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 expect that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Wednesday, March 19th. Elme Communities's payout ratio is currently -514.29%.

Analyst Ratings Changes

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

About Elme Communities

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.