Cerity Partners LLC Has $1.37 Million Holdings in Elme Communities (NYSE:ELME)

Cerity Partners LLC raised its stake in Elme Communities (NYSE:ELME) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,078 shares of the company’s stock after purchasing an additional 1,653 shares during the period. Cerity Partners LLC owned 0.09% of Elme Communities worth $1,373,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 1,100 shares in the last quarter. Archer Investment Corp increased its position in shares of Elme Communities by 308.2% during the second quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock worth $28,000 after acquiring an additional 1,350 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Elme Communities by 438.1% during the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock worth $29,000 after acquiring an additional 1,494 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Elme Communities by 149.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after acquiring an additional 1,725 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Elme Communities by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after buying an additional 885 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Price Performance

Shares of NYSE ELME opened at $16.55 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -110.33 and a beta of 0.89. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49. The stock has a fifty day simple moving average of $16.93 and a two-hundred day simple moving average of $16.63.

Elme Communities (NYSE:ELME) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). The business had revenue of $61.06 million during the quarter, compared to the consensus estimate of $60.31 million. Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS. Analysts anticipate that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 19th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Thursday, December 19th. Elme Communities’s payout ratio is currently -479.97%.

Analysts Set New Price Targets

ELME has been the subject of several analyst reports. Wells Fargo & Company increased their target price on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a 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 note on Monday, September 16th. Finally, Wolfe Research started coverage on Elme Communities in a research note on Monday, October 21st. They set a “peer perform” rating on the stock.

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.