Resona Asset Management Co. Ltd. Makes New $516,000 Investment in Elme Communities (NYSE:ELME)

Resona Asset Management Co. Ltd. acquired a new stake in Elme Communities (NYSE:ELME - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,651 shares of the company's stock, valued at approximately $516,000.

Other institutional investors have also modified their holdings of the company. Metis Global Partners LLC purchased a new stake in Elme Communities in the 4th quarter worth approximately $154,000. Meridian Wealth Management LLC purchased a new stake in shares of Elme Communities in the fourth quarter valued at $171,000. Proficio Capital Partners LLC acquired a new position in Elme Communities in the fourth quarter valued at $180,000. M&T Bank Corp lifted its position in Elme Communities by 10.1% during the fourth 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 period. Finally, Entropy Technologies LP acquired a new stake in Elme Communities in the 4th quarter worth about $197,000. Institutional investors and hedge funds own 87.88% of the company's stock.

Elme Communities Trading Down 0.2 %

ELME traded down $0.03 on Tuesday, reaching $15.27. 149,956 shares of the company's stock were exchanged, compared to its average volume of 584,726. Elme Communities has a twelve month low of $13.95 and a twelve month high of $18.49. The company's 50 day moving average is $16.62 and its 200-day moving average is $16.27. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -109.07 and a beta of 0.84.

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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, topping the consensus estimate 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%. Equities analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Wednesday, March 19th. Elme Communities's dividend payout ratio (DPR) is -514.29%.

Analyst Ratings Changes

A number of research firms have recently commented on ELME. JPMorgan Chase & Co. downgraded shares of Elme Communities from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th. 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 report on Thursday, February 20th. Finally, Truist Financial upgraded Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th.

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.