Elme Communities (NYSE:ELME) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its position in shares of Elme Communities (NYSE:ELME) by 23.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,537 shares of the company’s stock after selling 4,185 shares during the quarter. ProShare Advisors LLC’s holdings in Elme Communities were worth $216,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its stake in Elme Communities by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 44,300 shares of the company’s stock valued at $706,000 after acquiring an additional 800 shares during the period. Van ECK Associates Corp grew its stake in Elme Communities by 6.8% during 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 during the last quarter. Texas Permanent School Fund Corp grew its stake in Elme Communities by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 76,870 shares of the company’s stock worth $1,070,000 after buying an additional 1,028 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Elme Communities by 162.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after buying an additional 1,100 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Elme Communities by 9.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,995 shares of the company’s stock valued at $190,000 after buying an additional 1,110 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analyst Ratings Changes

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

Elme Communities Trading Down 0.4 %

NYSE:ELME opened at $17.18 on Friday. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -28.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.55. Elme Communities has a 1 year low of $12.44 and a 1 year high of $18.49. The business has a fifty day moving average of $17.40 and a 200-day moving average of $16.01.

Elme Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were given a $0.18 dividend. The ex-dividend date was Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.19%. Elme Communities’s dividend payout ratio is presently -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.