BNP Paribas Financial Markets Sells 2,256 Shares of Elme Communities (NYSE:ELME)

BNP Paribas Financial Markets cut its position in Elme Communities (NYSE:ELME) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,912 shares of the company’s stock after selling 2,256 shares during the quarter. BNP Paribas Financial Markets’ holdings in Elme Communities were worth $561,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its position in shares of Elme Communities by 1.8% during the 2nd 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 lifted its holdings in Elme Communities by 6.8% during the second quarter. Van ECK Associates Corp now owns 13,465 shares of the company’s stock worth $214,000 after acquiring an additional 858 shares during the period. Verdence Capital Advisors LLC boosted its position in Elme Communities by 5.7% in the third quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company’s stock worth $282,000 after purchasing an additional 867 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased 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 during the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Elme Communities by 5.9% in the 3rd quarter. Inspire Investing LLC now owns 23,419 shares of the company’s stock worth $412,000 after purchasing an additional 1,300 shares during the period. 87.88% of the stock is owned by institutional investors.

Elme Communities Trading Down 1.1 %

Elme Communities stock opened at $16.35 on Friday. Elme Communities has a 12 month low of $12.74 and a 12 month high of $18.49. 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 business’s fifty day simple moving average is $16.79 and its two-hundred day simple moving average is $16.66. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -108.96 and a beta of 0.89.

Elme Communities (NYSE:ELME) last posted its earnings results on Monday, November 4th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 1.17% and a negative net margin of 5.51%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS. As a group, equities analysts predict that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders 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 yield of 4.41%. The ex-dividend date of this dividend is Thursday, December 19th. Elme Communities’s dividend payout ratio is -479.97%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target 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 target on shares of Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Wolfe Research started coverage on shares of Elme Communities in a research report on Monday, October 21st. They set a “peer perform” rating on the stock.

About Elme Communities

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.