Norges Bank purchased a new stake in shares of Elme Communities (NYSE:ELME - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 180,102 shares of the company's stock, valued at approximately $2,750,000. Norges Bank owned about 0.20% of Elme Communities at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Hunter Perkins Capital Management LLC increased its position in Elme Communities by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company's stock valued at $354,000 after acquiring an additional 875 shares during the period. Public Employees Retirement System of Ohio grew its position in Elme Communities by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company's stock valued at $2,239,000 after buying an additional 954 shares in the last quarter. M&T Bank Corp increased its stake in Elme Communities by 9.5% during the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company's stock valued at $203,000 after buying an additional 1,000 shares during the period. American Century Companies Inc. raised its position in shares of Elme Communities by 3.5% during the 4th quarter. American Century Companies Inc. now owns 35,202 shares of the company's stock worth $538,000 after buying an additional 1,193 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Elme Communities by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 16,669 shares of the company's stock worth $255,000 after buying an additional 1,544 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently issued reports on ELME. Wells Fargo & Company increased 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. JPMorgan Chase & Co. lowered Elme Communities from an "overweight" rating to a "neutral" rating and decreased their price target for the company 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 research note on Friday, January 17th.
Check Out Our Latest Stock Analysis on ELME
Elme Communities Price Performance
Shares of ELME traded down $0.04 during mid-day trading on Tuesday, hitting $15.26. The company's stock had a trading volume of 126,355 shares, compared to its average volume of 584,639. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.49. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -109.00 and a beta of 0.84. The firm has a 50-day moving average price of $16.62 and a 200 day moving average price of $16.27. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55.
Elme Communities (NYSE:ELME - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates 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, research analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.
Elme Communities Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 19th. This represents a $0.72 annualized dividend and a yield of 4.72%. Elme Communities's payout ratio is presently -514.29%.
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.
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