Quantbot Technologies LP Sells 70,126 Shares of Elme Communities (NYSE:ELME)

Quantbot Technologies LP decreased its position in shares of Elme Communities (NYSE:ELME - Free Report) by 91.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,586 shares of the company's stock after selling 70,126 shares during the quarter. Quantbot Technologies LP's holdings in Elme Communities were worth $101,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Elme Communities during the third quarter worth $86,000. Metis Global Partners LLC acquired a new stake in Elme Communities in the 4th quarter valued at $154,000. Meridian Wealth Management LLC acquired a new stake in Elme Communities in the 4th quarter valued at $171,000. Proficio Capital Partners LLC bought a new stake in Elme Communities during the 4th quarter worth about $180,000. Finally, M&T Bank Corp boosted its stake in shares of Elme Communities by 10.1% during the 4th quarter. M&T Bank Corp now owns 12,691 shares of the company's stock worth $194,000 after buying an additional 1,166 shares during the last quarter. Institutional investors own 87.88% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ELME. Wells Fargo & Company lifted their target price on Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Truist Financial raised Elme Communities from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. downgraded Elme Communities from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $19.00 to $18.00 in a report on Tuesday, December 17th.

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Elme Communities Stock Performance

Shares of ELME stock traded down $0.70 on Friday, reaching $15.96. The stock had a trading volume of 925,219 shares, compared to its average volume of 590,359. Elme Communities has a 12 month low of $14.20 and a 12 month high of $18.49. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -114.02 and a beta of 0.84. The firm's 50-day moving average is $16.63 and its two-hundred day moving average is $16.42.

Elme Communities (NYSE:ELME - Get Free Report) last released its quarterly earnings data 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 return on equity of 1.18% and a negative net margin of 5.42%. On average, research analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.51%. Elme Communities's dividend payout ratio (DPR) is -514.29%.

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.