AlphaQuest LLC Sells 19,148 Shares of Elme Communities (NYSE:ELME)

AlphaQuest LLC lessened its position in Elme Communities (NYSE:ELME - Free Report) by 25.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,930 shares of the company's stock after selling 19,148 shares during the quarter. AlphaQuest LLC owned about 0.06% of Elme Communities worth $869,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV raised its stake in 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 purchasing an additional 1,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Elme Communities in the third quarter valued at about $86,000. Metis Global Partners LLC acquired a new stake in Elme Communities during the fourth quarter worth about $154,000. Meridian Wealth Management LLC bought a new position in Elme Communities during the fourth quarter valued at about $171,000. Finally, Proficio Capital Partners LLC acquired a new position in Elme Communities in the 4th quarter valued at approximately $180,000. Institutional investors and hedge funds own 87.88% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Elme Communities Price Performance

ELME stock traded down $0.14 during trading on Thursday, hitting $16.89. The company had a trading volume of 822,687 shares, compared to its average volume of 639,175. The company has a fifty day moving average price of $15.83 and a two-hundred day moving average price of $16.50. 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 has a fifty-two week low of $12.81 and a fifty-two week high of $18.49. The company has a market cap of $1.49 billion, a P/E ratio of -120.66 and a beta of 0.86.

Elme Communities (NYSE:ELME - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. Equities research analysts expect that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be given a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.26%. Elme Communities's payout ratio is -514.29%.

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.