Yoffe Investment Management LLC Makes New Investment in Elme Communities (NYSE:ELME)

Yoffe Investment Management LLC acquired a new position in shares of Elme Communities (NYSE:ELME - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,655 shares of the company's stock, valued at approximately $422,000.

Several other large investors also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 worth $11,511,000 after acquiring an additional 538,857 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Elme Communities by 97.0% in the 4th quarter. JPMorgan Chase & Co. now owns 814,233 shares of the company's stock valued at $12,433,000 after buying an additional 400,834 shares in the last quarter. Norges Bank bought a new position in Elme Communities during the 4th quarter worth $2,750,000. FMR LLC boosted its position in shares of Elme Communities by 3.1% in 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 period. Finally, Barclays PLC boosted its holdings in Elme Communities by 64.9% in the 3rd quarter. Barclays PLC now owns 177,438 shares of the company's stock valued at $3,121,000 after purchasing an additional 69,835 shares during the period. Institutional investors own 87.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ELME shares. Truist Financial upgraded Elme Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. JPMorgan Chase & Co. cut 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 report on Tuesday, December 17th. Finally, Wells Fargo & Company upped their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th.

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Elme Communities Price Performance

Shares of ELME stock traded down $0.25 during trading hours on Wednesday, reaching $14.44. The company's stock had a trading volume of 160,691 shares, compared to its average volume of 590,951. Elme Communities has a fifty-two week low of $13.96 and a fifty-two week high of $18.49. The firm's 50 day simple moving average is $16.63 and its 200-day simple moving average is $16.36. 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 capitalization of $1.27 billion, a price-to-earnings ratio of -102.93 and a beta of 0.84.

Elme Communities (NYSE:ELME - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share 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%. Sell-side analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend was Wednesday, March 19th. Elme Communities's payout ratio is -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.