UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $11.51 Million Stock Position in Elme Communities (NYSE:ELME)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Elme Communities (NYSE:ELME - Free Report) by 466.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 654,403 shares of the company's stock after purchasing an additional 538,857 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.74% of Elme Communities worth $11,511,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Archer Investment Corp boosted its stake in Elme Communities by 308.2% in the second quarter. Archer Investment Corp now owns 1,788 shares of the company's stock valued at $28,000 after acquiring an additional 1,350 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Elme Communities by 438.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,835 shares of the company's stock worth $29,000 after purchasing an additional 1,494 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Elme Communities by 149.2% during the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company's stock worth $46,000 after purchasing an additional 1,725 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Elme Communities by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company's stock valued at $60,000 after purchasing an additional 885 shares during the last quarter. Finally, KBC Group NV lifted its stake in Elme Communities by 51.8% in the third quarter. KBC Group NV now owns 4,526 shares of the company's stock valued at $80,000 after buying an additional 1,544 shares during the period. Institutional investors and hedge funds own 87.88% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ELME shares. Wells Fargo & Company boosted their target price on Elme Communities from $14.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Friday, September 13th. JPMorgan Chase & Co. boosted their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Monday, September 16th. Finally, Wolfe Research assumed coverage on shares of Elme Communities in a research note on Monday, October 21st. They issued a "peer perform" rating for the company.

Elme Communities Price Performance

Shares of NYSE ELME traded up $0.14 during mid-day trading on Friday, reaching $16.72. 379,143 shares of the company's stock were exchanged, compared to its average volume of 547,630. Elme Communities has a twelve month low of $12.74 and a twelve month 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 0.63. The business has a fifty day simple moving average of $16.87 and a 200 day simple moving average of $16.64.

Elme Communities (NYSE:ELME - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.27). Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The company had revenue of $61.06 million for the quarter, compared to analyst estimates of $60.31 million. During the same quarter last year, the business posted $0.24 earnings per share. The business's quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, December 19th. Elme Communities's dividend payout ratio (DPR) is presently -479.97%.

Elme Communities Company 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.