Martingale Asset Management L P Has $1.65 Million Stock Position in Elme Communities (NYSE:ELME)

Martingale Asset Management L P raised its stake in Elme Communities (NYSE:ELME - Free Report) by 23.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,792 shares of the company's stock after acquiring an additional 20,521 shares during the period. Martingale Asset Management L P owned 0.12% of Elme Communities worth $1,646,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ELME. Metis Global Partners LLC acquired a new position in shares of Elme Communities during the fourth quarter worth approximately $154,000. Meridian Wealth Management LLC bought a new position in shares of Elme Communities in the fourth quarter worth $171,000. Proficio Capital Partners LLC bought a new stake in shares of Elme Communities during the fourth quarter valued at about $180,000. M&T Bank Corp lifted its holdings in Elme Communities by 10.1% in the fourth quarter. M&T Bank Corp now owns 12,691 shares of the company's stock worth $194,000 after purchasing an additional 1,166 shares during the period. Finally, Entropy Technologies LP bought a new position in Elme Communities in the 4th quarter valued at about $197,000. 87.88% of the stock is owned by institutional investors.

Elme Communities Trading Down 0.4 %

Shares of Elme Communities stock traded down $0.07 on Tuesday, reaching $15.24. 733,021 shares of the company were exchanged, compared to its average volume of 586,140. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.49. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -108.82 and a beta of 0.84. The stock has a fifty day moving average price of $16.61 and a 200-day moving average price of $16.26.

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Elme Communities (NYSE:ELME - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The firm also recently announced 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 was Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.73%. Elme Communities's dividend payout ratio is -514.29%.

Wall Street Analyst Weigh In

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