Yousif Capital Management LLC Decreases Stock Position in Elme Communities (NYSE:ELME)

Yousif Capital Management LLC cut its position in Elme Communities (NYSE:ELME) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,451 shares of the company’s stock after selling 793 shares during the quarter. Yousif Capital Management LLC’s holdings in Elme Communities were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ELME. Mirae Asset Global Investments Co. Ltd. boosted its stake in Elme Communities by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock valued at $60,000 after acquiring an additional 885 shares during the last quarter. KBC Group NV boosted its stake in Elme Communities by 51.8% during the 3rd quarter. KBC Group NV now owns 4,526 shares of the company’s stock valued at $80,000 after acquiring an additional 1,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Elme Communities during the 3rd quarter valued at $86,000. Blue Trust Inc. boosted its stake in Elme Communities by 888.4% during the 3rd quarter. Blue Trust Inc. now owns 10,675 shares of the company’s stock valued at $188,000 after acquiring an additional 9,595 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in Elme Communities by 9.5% during the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock valued at $203,000 after acquiring an additional 1,000 shares during the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ELME. JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th. Wolfe Research began coverage on shares of Elme Communities in a research note on Monday, October 21st. They set a “peer perform” rating on the stock. Finally, Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th.

Elme Communities Stock Performance

Shares of ELME opened at $17.28 on Monday. The firm’s 50 day moving average is $15.25 and its 200-day moving average is $16.47. The stock has a market capitalization of $1.52 billion, a P/E ratio of -115.21 and a beta of 0.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55. Elme Communities has a 12-month low of $12.74 and a 12-month high of $18.49.

Elme Communities (NYSE:ELME) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. Equities research analysts anticipate that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.17%. Elme Communities’s dividend payout ratio is currently -479.97%.

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.