Asset Management One Co. Ltd. Has $3.06 Million Holdings in Elme Communities (NYSE:ELME)

Asset Management One Co. Ltd. cut its stake in Elme Communities (NYSE:ELME) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 205,641 shares of the company’s stock after selling 5,083 shares during the period. Asset Management One Co. Ltd. owned approximately 0.23% of Elme Communities worth $3,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC boosted its stake in Elme Communities by 5.7% in the 3rd 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 period. Hunter Perkins Capital Management LLC boosted its stake in Elme Communities by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock worth $354,000 after purchasing an additional 875 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Elme Communities by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after purchasing an additional 885 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Elme Communities by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company’s stock worth $2,239,000 after purchasing an additional 954 shares during the period. Finally, M&T Bank Corp boosted its stake in Elme Communities by 9.5% in the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after purchasing an additional 1,000 shares during the period. 87.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELME has been the subject of a number of research analyst reports. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. downgraded shares of Elme Communities from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $19.00 to $18.00 in a research note on Tuesday, December 17th.

Elme Communities Trading Down 1.6 %

Elme Communities stock opened at $16.77 on Thursday. The firm has a 50-day moving average of $15.28 and a 200-day moving average of $16.48. Elme Communities has a one year low of $12.74 and a one year high of $18.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -119.81 and a beta of 0.91.

Elme Communities (NYSE:ELME) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. On average, equities analysts expect that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.72 annualized dividend and a yield of 4.29%. Elme Communities’s dividend payout ratio (DPR) is currently -514.29%.

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.