Y Intercept Hong Kong Ltd Invests $588,000 in Elme Communities (NYSE:ELME)

Y Intercept Hong Kong 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 SEC. The fund acquired 38,491 shares of the company's stock, valued at approximately $588,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ELME. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 buying an additional 885 shares during the period. KBC Group NV raised its holdings in Elme Communities by 51.8% in the 3rd quarter. KBC Group NV now owns 4,526 shares of the company's stock valued at $80,000 after acquiring an additional 1,544 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Elme Communities during the 3rd quarter valued at $86,000. M&T Bank Corp lifted its position in shares of Elme Communities by 9.5% during the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company's stock valued at $203,000 after acquiring an additional 1,000 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Elme Communities during the 3rd quarter worth $211,000. Institutional investors and hedge funds own 87.88% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ELME. JPMorgan Chase & Co. cut shares of Elme Communities from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $19.00 to $18.00 in a research report 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 report on Thursday, February 20th. Finally, Truist Financial raised shares of Elme Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 17th.

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Elme Communities Price Performance

NYSE ELME traded up $0.17 during trading on Wednesday, hitting $17.35. 501,229 shares of the company's stock were exchanged, compared to its average volume of 637,436. The company has a market cap of $1.53 billion, a PE ratio of -123.89 and a beta of 0.91. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. Elme Communities has a fifty-two week low of $12.78 and a fifty-two week high of $18.49. The stock's 50 day moving average price is $15.58 and its two-hundred day moving average price is $16.49.

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

Elme Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.15%. Elme Communities's dividend payout ratio (DPR) 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.