24,291 Shares in Elme Communities (NYSE:ELME) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new stake in Elme Communities (NYSE:ELME - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 24,291 shares of the company's stock, valued at approximately $371,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jane Street Group LLC lifted its position in shares of Elme Communities by 50.8% during the 3rd quarter. Jane Street Group LLC now owns 169,361 shares of the company's stock valued at $2,979,000 after acquiring an additional 57,038 shares during the period. Versor Investments LP bought a new position in shares of Elme Communities during the 4th quarter worth about $596,000. Charles Schwab Investment Management Inc. increased its position in Elme Communities by 3.2% in 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 buying an additional 53,505 shares in the last quarter. Verition Fund Management LLC acquired a new position in Elme Communities during the 3rd quarter worth approximately $541,000. Finally, Barclays PLC boosted its holdings in Elme Communities by 64.9% in the third quarter. Barclays PLC now owns 177,438 shares of the company's stock worth $3,121,000 after acquiring an additional 69,835 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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Elme Communities Stock Down 4.2 %

NYSE:ELME traded down $0.70 during trading hours on Friday, hitting $15.96. 925,219 shares of the company traded hands, compared to its average volume of 590,359. 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 company has a market cap of $1.41 billion, a PE ratio of -114.02 and a beta of 0.84. The firm's 50-day simple moving average is $16.63 and its 200-day simple moving average is $16.42. Elme Communities has a one year low of $14.20 and a one year high of $18.49.

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, 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 Announces Dividend

The firm also recently announced 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 is presently -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.