ExodusPoint Capital Management LP Purchases 68,823 Shares of Elme Communities (NYSE:ELME)

ExodusPoint Capital Management LP boosted its stake in Elme Communities (NYSE:ELME - Free Report) by 108.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,414 shares of the company's stock after purchasing an additional 68,823 shares during the period. ExodusPoint Capital Management LP owned about 0.15% of Elme Communities worth $2,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Metis Global Partners LLC bought a new stake in shares of Elme Communities in the fourth quarter worth $154,000. Meridian Wealth Management LLC bought a new stake in shares of Elme Communities in the 4th quarter valued at about $171,000. Proficio Capital Partners LLC acquired a new stake in shares of Elme Communities in the fourth quarter valued at about $180,000. M&T Bank Corp raised its position in shares of Elme Communities by 10.1% during the fourth quarter. M&T Bank Corp now owns 12,691 shares of the company's stock worth $194,000 after acquiring an additional 1,166 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Elme Communities in the fourth quarter worth approximately $197,000. Institutional investors own 87.88% of the company's stock.

Elme Communities Stock Performance

ELME stock traded up $0.25 during midday trading on Monday, reaching $15.32. 62,598 shares of the company's stock traded hands, compared to its average volume of 583,785. The firm has a market capitalization of $1.35 billion, a PE ratio of -109.43 and a beta of 0.84. The company has a 50-day moving average price of $16.62 and a two-hundred day moving average price of $16.28. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58.

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Elme Communities (NYSE:ELME - Get Free Report) last posted 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%. As a group, equities analysts anticipate that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.70%. Elme Communities's payout ratio is -514.29%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. lowered Elme Communities from an "overweight" rating to a "neutral" rating and cut their target price for the company from $19.00 to $18.00 in a research report on Tuesday, December 17th. Wells Fargo & Company raised their price objective on shares of 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 shares of Elme Communities from a "hold" rating to a "buy" rating in a research report on Friday, January 17th.

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.