Versor Investments LP Invests $596,000 in Elme Communities (NYSE:ELME)

Versor Investments LP bought a new stake in Elme Communities (NYSE:ELME - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 39,000 shares of the company's stock, valued at approximately $596,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC raised its stake in Elme Communities by 50.8% in the third quarter. Jane Street Group LLC now owns 169,361 shares of the company's stock valued at $2,979,000 after buying an additional 57,038 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Elme Communities in the third quarter valued at $975,000. Charles Schwab Investment Management Inc. raised its stake in Elme Communities by 3.2% in the third 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 stake in Elme Communities in the third quarter valued at $541,000. Finally, Barclays PLC raised its stake in Elme Communities by 64.9% in the third quarter. Barclays PLC now owns 177,438 shares of the company's stock valued at $3,121,000 after buying an additional 69,835 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. cut Elme Communities from an "overweight" rating to a "neutral" rating and cut their price target for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th. Wells Fargo & Company lifted 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. Finally, Truist Financial upgraded 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 Performance

ELME stock traded up $0.17 during trading on Wednesday, hitting $17.35. The company had a trading volume of 501,229 shares, compared to its average volume of 637,436. The firm has a market cap of $1.53 billion, a PE ratio of -123.89 and a beta of 0.91. Elme Communities has a 1-year low of $12.78 and a 1-year high of $18.49. The firm has a 50-day moving average price of $15.58 and a 200-day moving average price of $16.49. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65.

Elme Communities (NYSE:ELME - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts expect that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Wednesday, March 19th. Elme Communities's dividend payout ratio is presently -514.29%.

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.