Elme Communities (NYSE:ELME) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Elme Communities (NYSE:ELME - Free Report) by 46.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,235 shares of the company's stock after buying an additional 16,840 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Elme Communities worth $813,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Elme Communities by 466.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 654,403 shares of the company's stock valued at $11,511,000 after purchasing an additional 538,857 shares in the last quarter. FMR LLC increased its position in shares of Elme Communities by 3.1% in the third quarter. FMR LLC now owns 5,637,288 shares of the company's stock valued at $99,160,000 after buying an additional 171,486 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of Elme Communities in the third quarter valued at $1,535,000. Barclays PLC raised its stake in shares of Elme Communities by 64.9% during the 3rd quarter. Barclays PLC now owns 177,438 shares of the company's stock worth $3,121,000 after buying an additional 69,835 shares during the last quarter. Finally, LDR Capital Management LLC boosted its position in shares of 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 buying an additional 59,840 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

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

Elme Communities Trading Up 0.1 %

NYSE:ELME traded up $0.01 on Tuesday, reaching $17.20. The stock had a trading volume of 644,010 shares, compared to its average volume of 558,122. Elme Communities has a 12-month low of $13.30 and a 12-month high of $18.49. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -122.86 and a beta of 0.86. The firm's fifty day moving average is $16.22 and its two-hundred day moving average is $16.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55.

Elme Communities (NYSE:ELME - Get Free Report) last announced 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 net margin of 5.42% and a negative return on equity of 1.18%. Equities analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 annualized dividend and a yield of 4.19%. Elme Communities's payout ratio is currently -514.29%.

Elme Communities Company 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.