Elme Communities (NYSE:ELME) Holdings Decreased by Inspire Investing LLC

Inspire Investing LLC reduced its holdings in Elme Communities (NYSE:ELME) by 14.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,119 shares of the company’s stock after selling 3,618 shares during the period. Inspire Investing LLC’s holdings in Elme Communities were worth $352,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Louisiana State Employees Retirement System lifted its position in shares of Elme Communities by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 44,300 shares of the company’s stock worth $706,000 after purchasing an additional 800 shares in the last quarter. Van ECK Associates Corp lifted its position in Elme Communities by 6.8% in the 2nd quarter. Van ECK Associates Corp now owns 13,465 shares of the company’s stock worth $214,000 after buying an additional 858 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Elme Communities by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 76,870 shares of the company’s stock valued at $1,070,000 after buying an additional 1,028 shares during the period. EverSource Wealth Advisors LLC grew 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 valued at $27,000 after acquiring an additional 1,100 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Elme Communities by 9.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,995 shares of the company’s stock valued at $190,000 after acquiring an additional 1,110 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Stock Down 0.7 %

Elme Communities stock opened at $17.79 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. Elme Communities has a 1-year low of $12.44 and a 1-year high of $18.49. The firm’s fifty day simple moving average is $17.17 and its 200-day simple moving average is $15.74. The company has a market capitalization of $1.57 billion, a P/E ratio of -29.16 and a beta of 0.90.

Elme Communities Announces Dividend

The business 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 $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.05%. Elme Communities’s dividend payout ratio is currently -118.03%.

Wall Street Analysts Forecast Growth

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

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.