Elme Communities (NYSE:ELME) Shares Acquired by Fmr LLC

FMR LLC raised its stake in shares of Elme Communities (NYSE:ELME - Free Report) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,637,288 shares of the company's stock after purchasing an additional 171,486 shares during the period. FMR LLC owned 6.41% of Elme Communities worth $99,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. DigitalBridge Group Inc. bought a new position in shares of Elme Communities during the second quarter valued at approximately $8,132,000. Hunter Perkins Capital Management LLC increased its stake in Elme Communities by 990.8% in the second quarter. Hunter Perkins Capital Management LLC now owns 325,865 shares of the company's stock worth $5,224,000 after purchasing an additional 295,990 shares during the period. Bank of Montreal Can bought a new stake in shares of Elme Communities during the second quarter worth $1,419,000. Renaissance Technologies LLC boosted its stake in shares of Elme Communities by 7.1% during the second quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company's stock valued at $16,508,000 after purchasing an additional 69,014 shares during the period. Finally, TCW Group Inc. grew its holdings in shares of Elme Communities by 123.8% in the second quarter. TCW Group Inc. now owns 123,104 shares of the company's stock worth $1,961,000 after purchasing an additional 68,103 shares during the last quarter. Institutional investors own 87.88% of the company's stock.

Wall Street Analysts Forecast Growth

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

Elme Communities Stock Up 0.1 %

NYSE ELME traded up $0.02 on Thursday, hitting $16.58. 393,897 shares of the stock were exchanged, compared to its average volume of 584,238. Elme Communities has a fifty-two week low of $12.74 and a fifty-two week high of $18.49. The company has a 50-day moving average price of $16.90 and a 200-day moving average price of $16.63. The company has a market cap of $1.46 billion, a PE ratio of -110.33 and a beta of 0.89. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.63.

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

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 19th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Thursday, December 19th. Elme Communities's payout ratio is currently -479.97%.

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.