Anson Funds Management LP Sells 143,000 Shares of Elme Communities (NYSE:ELME)

Anson Funds Management LP lessened its holdings in Elme Communities (NYSE:ELME - Free Report) by 56.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,411 shares of the company's stock after selling 143,000 shares during the period. Anson Funds Management LP owned approximately 0.13% of Elme Communities worth $1,977,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Louisiana State Employees Retirement System boosted its stake in shares of Elme Communities by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 44,300 shares of the company's stock worth $706,000 after buying an additional 800 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Elme Communities by 6.8% in the 2nd quarter. Van ECK Associates Corp now owns 13,465 shares of the company's stock worth $214,000 after buying an additional 858 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Elme Communities by 5.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company's stock worth $282,000 after buying an additional 867 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Elme Communities by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company's stock worth $60,000 after buying an additional 885 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in Elme Communities by 5.9% in the third quarter. Inspire Investing LLC now owns 23,419 shares of the company's stock valued at $412,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 87.88% of the company's stock.

Wall Street Analyst Weigh In

ELME has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Elme Communities from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Monday, September 16th. Wells Fargo & Company upped their price objective on Elme Communities from $14.00 to $17.00 and gave the company an "equal weight" rating in a research note on Friday, September 13th. Finally, Wolfe Research initiated coverage on Elme Communities in a research note on Monday, October 21st. They issued a "peer perform" rating on the stock.

Elme Communities Stock Performance

Shares of NYSE:ELME traded up $0.14 during trading on Friday, hitting $16.72. 379,143 shares of the company were exchanged, compared to its average volume of 547,630. The company has a market cap of $1.47 billion, a PE ratio of -111.46 and a beta of 0.89. The stock has a 50 day moving average of $16.87 and a 200 day moving average of $16.64. Elme Communities has a 52-week low of $12.74 and a 52-week high of $18.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55.

Elme Communities (NYSE:ELME - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). The company had revenue of $61.06 million for the quarter, compared to analysts' expectations of $60.31 million. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The company's revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. As a group, equities research analysts predict that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, December 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.31%. Elme Communities's dividend payout ratio is currently -479.97%.

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.