87,271 Shares in Elme Communities (NYSE:ELME) Bought by Martingale Asset Management L P

Martingale Asset Management L P bought a new stake in Elme Communities (NYSE:ELME - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 87,271 shares of the company's stock, valued at approximately $1,535,000. Martingale Asset Management L P owned about 0.10% of Elme Communities as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Elme Communities by 162.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company's stock valued at $27,000 after purchasing an additional 1,100 shares in the last quarter. Archer Investment Corp boosted its stake in shares of Elme Communities by 308.2% during the second quarter. Archer Investment Corp now owns 1,788 shares of the company's stock valued at $28,000 after purchasing an additional 1,350 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Elme Communities by 438.1% during the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company's stock valued at $29,000 after purchasing an additional 1,494 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Elme Communities by 149.2% during the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company's stock valued at $46,000 after purchasing an additional 1,725 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 worth $60,000 after acquiring an additional 885 shares during the period. Institutional investors own 87.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ELME. Wells Fargo & Company lifted their price objective on Elme Communities from $14.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Friday, September 13th. JPMorgan Chase & Co. lifted their price objective on Elme Communities from $17.00 to $19.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Finally, Wolfe Research began coverage on Elme Communities in a research note on Monday, October 21st. They issued a "peer perform" rating on the stock.

Elme Communities Stock Down 0.5 %

Shares of NYSE ELME traded down $0.08 during midday trading on Monday, hitting $16.86. 493,325 shares of the stock traded hands, compared to its average volume of 585,594. The company has a market cap of $1.48 billion, a PE ratio of -112.93 and a beta of 0.89. Elme Communities has a one year low of $12.74 and a one year high of $18.49. The business has a 50 day moving average price of $16.98 and a two-hundred day moving average price of $16.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.55 and a current ratio of 0.55.

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

Elme Communities Announces Dividend

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 dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.27%. Elme Communities's dividend payout ratio is -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.