Marshall Wace LLP Sells 1,015,219 Shares of Elme Communities (NYSE:ELME)

Marshall Wace LLP lowered its position in shares of Elme Communities (NYSE:ELME - Free Report) by 97.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,200 shares of the company's stock after selling 1,015,219 shares during the quarter. Marshall Wace LLP's holdings in Elme Communities were worth $401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in shares of Elme Communities during the second quarter worth $1,419,000. Public Sector Pension Investment Board increased its holdings in Elme Communities by 6.2% in the second quarter. Public Sector Pension Investment Board now owns 193,643 shares of the company's stock valued at $3,085,000 after purchasing an additional 11,372 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Elme Communities by 6.2% in the second quarter. Hsbc Holdings PLC now owns 75,121 shares of the company's stock valued at $1,194,000 after purchasing an additional 4,372 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Elme Communities by 7.1% in the second quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company's stock valued at $16,508,000 after purchasing an additional 69,014 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Elme Communities by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,259,876 shares of the company's stock valued at $20,069,000 after purchasing an additional 17,387 shares during the last quarter. Institutional investors own 87.88% of the company's stock.

Elme Communities Stock Up 0.1 %

Shares of ELME stock traded up $0.02 on Friday, hitting $16.82. 492,437 shares of the stock were exchanged, compared to its average volume of 593,514. The business has a 50-day moving average of $17.41 and a 200 day moving average of $16.11. Elme Communities has a fifty-two week low of $12.44 and a fifty-two week high of $18.49. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $1.48 billion, a P/E ratio of -27.57 and a beta of 0.90.

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.72 annualized dividend and a yield of 4.28%. Elme Communities's dividend payout ratio (DPR) is presently -118.03%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ELME shares. JPMorgan Chase & Co. upped their price objective on Elme Communities from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Monday, September 16th. Wells Fargo & Company boosted their target price on Elme Communities from $14.00 to $17.00 and gave the company an "equal weight" rating in a research note on Friday, September 13th.

Elme Communities 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.