JPMorgan Chase & Co. Buys 400,834 Shares of Elme Communities (NYSE:ELME)

JPMorgan Chase & Co. raised its holdings in Elme Communities (NYSE:ELME - Free Report) by 97.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 814,233 shares of the company's stock after purchasing an additional 400,834 shares during the quarter. JPMorgan Chase & Co. owned 0.93% of Elme Communities worth $12,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in Elme Communities by 64.9% during the third quarter. Barclays PLC now owns 177,438 shares of the company's stock valued at $3,121,000 after purchasing an additional 69,835 shares during the last quarter. LDR Capital Management LLC increased its stake in Elme Communities by 259.7% in the 4th quarter. LDR Capital Management LLC now owns 82,883 shares of the company's stock worth $1,266,000 after acquiring an additional 59,840 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Elme Communities by 8.2% during the fourth quarter. Bank of New York Mellon Corp now owns 760,381 shares of the company's stock worth $11,611,000 after purchasing an additional 57,563 shares in the last quarter. Jane Street Group LLC grew its stake in Elme Communities by 50.8% in the 3rd quarter. Jane Street Group LLC now owns 169,361 shares of the company's stock worth $2,979,000 after buying an additional 57,038 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Elme Communities by 286.4% in the fourth quarter. Intech Investment Management LLC now owns 67,274 shares of the company's stock worth $1,027,000 after acquiring an additional 49,865 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company's stock.

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Elme Communities Stock Down 0.4 %

NYSE:ELME traded down $0.07 on Tuesday, reaching $15.24. 733,021 shares of the stock traded hands, compared to its average volume of 586,140. The company's fifty day simple moving average is $16.61 and its 200 day simple moving average is $16.26. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -108.82 and a beta of 0.84. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.49. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65.

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

Elme Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date was Wednesday, March 19th. Elme Communities's dividend payout ratio (DPR) is presently -514.29%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report 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 shares of Elme Communities from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $19.00 to $18.00 in a research note on Tuesday, December 17th.

Elme Communities 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.