Elme Communities (NYSE:ELME) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in Elme Communities (NYSE:ELME - Free Report) by 38.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,461,007 shares of the company's stock after buying an additional 407,607 shares during the quarter. Renaissance Technologies LLC owned approximately 1.66% of Elme Communities worth $22,310,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Elme Communities by 3.8% in the fourth quarter. Invesco Ltd. now owns 656,910 shares of the company's stock valued at $10,031,000 after acquiring an additional 23,829 shares in the last quarter. Bank of Montreal Can raised its stake in Elme Communities by 21.2% in the 4th quarter. Bank of Montreal Can now owns 126,682 shares of the company's stock valued at $1,934,000 after purchasing an additional 22,150 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Elme Communities by 22.3% in the 4th quarter. Wells Fargo & Company MN now owns 72,376 shares of the company's stock valued at $1,105,000 after purchasing an additional 13,173 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Elme Communities during the 4th quarter worth about $516,000. Finally, Centersquare Investment Management LLC grew its holdings in shares of Elme Communities by 105.6% during the fourth quarter. Centersquare Investment Management LLC now owns 109,800 shares of the company's stock worth $1,677,000 after buying an additional 56,400 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company's stock.

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Elme Communities Trading Down 0.4 %

Elme Communities stock traded down $0.07 during midday trading on Tuesday, reaching $15.24. The stock had a trading volume of 733,021 shares, compared to its average volume of 586,140. The stock has a market capitalization of $1.34 billion, a PE ratio of -108.82 and a beta of 0.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58. The stock's 50-day simple moving average is $16.61 and its 200 day simple moving average is $16.26. Elme Communities has a twelve month low of $13.95 and a twelve month high of $18.49.

Elme Communities (NYSE:ELME - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

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

Analysts Set New Price Targets

ELME has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Elme Communities from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $19.00 to $18.00 in a research report on Tuesday, December 17th. Wells Fargo & Company raised their price objective on Elme Communities from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Finally, Truist Financial upgraded Elme Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 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.