Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Elme Communities (NYSE:ELME - Free Report) by 74.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,420 shares of the company's stock after selling 219,089 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Elme Communities worth $1,167,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ELME. Intech Investment Management LLC purchased a new stake in Elme Communities during the third quarter worth about $306,000. Charles Schwab Investment Management Inc. grew its position in shares of Elme Communities by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,212 shares of the company's stock valued at $30,241,000 after acquiring an additional 53,505 shares during the period. Cerity Partners LLC increased its stake in shares of Elme Communities by 2.2% during the 3rd quarter. Cerity Partners LLC now owns 78,078 shares of the company's stock worth $1,373,000 after purchasing an additional 1,653 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Elme Communities by 17.4% in the 3rd quarter. Bank of Montreal Can now owns 104,532 shares of the company's stock worth $1,825,000 after purchasing an additional 15,481 shares during the period. Finally, FMR LLC lifted its stake in Elme Communities by 3.1% in the third quarter. FMR LLC now owns 5,637,288 shares of the company's stock valued at $99,160,000 after purchasing an additional 171,486 shares during the last quarter. Hedge funds and other institutional investors own 87.88% of the company's stock.
Elme Communities Price Performance
Shares of ELME stock traded down $0.70 during trading hours on Friday, reaching $15.96. The stock had a trading volume of 925,219 shares, compared to its average volume of 590,359. The stock's fifty day simple moving average is $16.63 and its 200 day simple moving average is $16.41. The firm has a market capitalization of $1.41 billion, a PE ratio of -114.02 and a beta of 0.84. Elme Communities has a 12 month low of $14.20 and a 12 month high of $18.49. 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 (NYSE:ELME - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. On average, equities research analysts predict that Elme Communities will post 0.94 EPS for the current year.
Elme Communities Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend was Wednesday, March 19th. Elme Communities's dividend payout ratio (DPR) is presently -514.29%.
Wall Street Analyst Weigh In
ELME has been the topic of several research reports. Truist Financial upgraded Elme Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. JPMorgan Chase & Co. cut Elme Communities from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company upped their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th.
Check Out Our Latest Analysis on ELME
About Elme Communities
(
Free Report)
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.
Featured Stories
Before you consider Elme Communities, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elme Communities wasn't on the list.
While Elme Communities currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
