Renaissance Technologies LLC Buys 69,014 Shares of Elme Communities (NYSE:ELME)

Renaissance Technologies LLC grew its stake in Elme Communities (NYSE:ELME) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,036,308 shares of the company’s stock after acquiring an additional 69,014 shares during the quarter. Renaissance Technologies LLC owned 1.18% of Elme Communities worth $16,508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Elme Communities by 11.8% in the 4th quarter. Victory Capital Management Inc. now owns 20,039 shares of the company’s stock valued at $293,000 after purchasing an additional 2,117 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Elme Communities by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,557,836 shares of the company’s stock valued at $22,744,000 after purchasing an additional 49,403 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Elme Communities in the 4th quarter valued at approximately $364,000. Nomura Asset Management Co. Ltd. grew its position in shares of Elme Communities by 1.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 99,300 shares of the company’s stock valued at $1,450,000 after purchasing an additional 1,500 shares during the period. Finally, Evoke Wealth LLC acquired a new position in shares of Elme Communities in the 4th quarter valued at approximately $597,000. 87.88% of the stock is owned by institutional investors.

Elme Communities Trading Down 0.7 %

NYSE:ELME 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 company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $17.17 and a two-hundred day moving average price of $15.72. The company has a market cap of $1.57 billion, a P/E ratio of -29.16 and a beta of 0.90.

Elme Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th will be given a dividend of $0.18 per share. 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%.

Analyst Ratings Changes

Several brokerages recently issued reports on ELME. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company upped their price target on Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th.

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.