Wolverine Asset Management LLC Lowers Stake in Elme Communities (NYSE:ELME)

Wolverine Asset Management LLC cut its holdings in Elme Communities (NYSE:ELME - Free Report) by 80.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,755 shares of the company's stock after selling 82,155 shares during the period. Wolverine Asset Management LLC's holdings in Elme Communities were worth $302,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Elme Communities by 3.1% during the third quarter. FMR LLC now owns 5,637,288 shares of the company's stock valued at $99,160,000 after acquiring an additional 171,486 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Elme Communities by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,234,902 shares of the company's stock worth $39,319,000 after purchasing an additional 12,999 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Elme Communities by 0.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,143,320 shares of the company's stock valued at $32,321,000 after purchasing an additional 18,965 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Elme Communities by 3.2% during 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 purchasing an additional 53,505 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Elme Communities by 466.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 654,403 shares of the company's stock valued at $11,511,000 after buying an additional 538,857 shares during the period. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

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Elme Communities Stock Up 0.3 %

NYSE:ELME traded up $0.06 on Thursday, reaching $17.44. 621,727 shares of the stock traded hands, compared to its average volume of 641,927. Elme Communities has a 12 month low of $12.74 and a 12 month high of $18.49. The company's fifty day simple moving average is $15.44 and its 200 day simple moving average is $16.50. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -124.56 and a beta of 0.91.

Elme Communities (NYSE:ELME - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates 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 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.13%. Elme Communities's dividend payout ratio is currently -514.29%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ELME shares. Truist Financial upgraded Elme Communities from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Wells Fargo & Company raised their price objective 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. Finally, JPMorgan Chase & Co. lowered shares of Elme Communities from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $19.00 to $18.00 in a research note on Tuesday, December 17th.

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.