Texas Permanent School Fund Corp Sells 11,131 Shares of Elme Communities (NYSE:ELME)

Texas Permanent School Fund Corp reduced its position in Elme Communities (NYSE:ELME) by 14.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,739 shares of the company’s stock after selling 11,131 shares during the period. Texas Permanent School Fund Corp owned 0.07% of Elme Communities worth $1,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Elme Communities by 162.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after acquiring an additional 1,100 shares in the last quarter. Archer Investment Corp raised its stake in Elme Communities by 308.2% during the second quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock valued at $28,000 after purchasing an additional 1,350 shares in the last quarter. Fifth Third Bancorp lifted its position in Elme Communities by 438.1% during the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock valued at $29,000 after purchasing an additional 1,494 shares during the last quarter. GAMMA Investing LLC lifted its position in Elme Communities by 149.2% during the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $46,000 after purchasing an additional 1,725 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Elme Communities in the 1st quarter worth $167,000. 87.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. upped their price objective on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, September 16th.

Elme Communities Trading Down 0.8 %

ELME stock opened at $17.79 on Friday. Elme Communities has a twelve month low of $12.44 and a twelve month high of $18.49. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -29.16 and a beta of 0.90. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $17.17 and its two-hundred day simple moving average is $15.70.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 19th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Thursday, September 19th. Elme Communities’s dividend payout ratio (DPR) is currently -118.03%.

Elme Communities 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.