Jane Street Group LLC Acquires 57,038 Shares of Elme Communities (NYSE:ELME)

Jane Street Group LLC boosted its position in Elme Communities (NYSE:ELME - Free Report) by 50.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,361 shares of the company's stock after buying an additional 57,038 shares during the quarter. Jane Street Group LLC owned approximately 0.19% of Elme Communities worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ELME. Archer Investment Corp increased its holdings in shares of Elme Communities by 308.2% in the second quarter. Archer Investment Corp now owns 1,788 shares of the company's stock worth $28,000 after buying an additional 1,350 shares during the period. Fifth Third Bancorp increased its stake in Elme Communities by 438.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,835 shares of the company's stock worth $29,000 after purchasing an additional 1,494 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Elme Communities by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company's stock valued at $60,000 after purchasing an additional 885 shares during the last quarter. KBC Group NV boosted its stake in shares of Elme Communities by 51.8% during the third 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 period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Elme Communities during the third quarter valued at approximately $86,000. 87.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on ELME shares. JPMorgan Chase & Co. lowered shares of Elme Communities from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $19.00 to $18.00 in a report on Tuesday. Wells Fargo & Company upped their price objective on shares of 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 assumed coverage on Elme Communities in a research note on Monday, October 21st. They issued a "peer perform" rating on the stock.

Elme Communities Trading Up 0.7 %

NYSE:ELME traded up $0.11 during trading hours on Friday, hitting $14.98. The company had a trading volume of 3,222,829 shares, compared to its average volume of 595,009. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a 50-day moving average price of $16.65 and a 200 day moving average price of $16.66. The company has a market capitalization of $1.32 billion, a PE ratio of -99.86 and a beta of 0.89. Elme Communities has a 52 week low of $12.74 and a 52 week high of $18.49.

Elme Communities (NYSE:ELME - Get Free Report) last posted its 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 return on equity of 1.17% and a negative net margin of 5.51%. The company had revenue of $61.06 million during the quarter, compared to analysts' expectations of $60.31 million. During the same period in the prior year, the business posted $0.24 earnings per share. The company's revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.81%. Elme Communities's dividend payout ratio (DPR) is -480.00%.

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.