Rhumbline Advisers Sells 5,993 Shares of Elme Communities (NYSE:ELME)

Rhumbline Advisers trimmed its position in shares of Elme Communities (NYSE:ELME) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,235 shares of the company’s stock after selling 5,993 shares during the period. Rhumbline Advisers owned approximately 0.32% of Elme Communities worth $4,279,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ELME. Van ECK Associates Corp lifted its stake in shares of Elme Communities by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 16,669 shares of the company’s stock valued at $255,000 after buying an additional 1,544 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Elme Communities by 0.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,143,320 shares of the company’s stock worth $32,321,000 after purchasing an additional 18,965 shares during the period. Entropy Technologies LP bought a new position in Elme Communities during the fourth quarter worth about $197,000. abrdn plc lifted its stake in Elme Communities by 30.6% during the fourth quarter. abrdn plc now owns 22,946 shares of the company’s stock worth $342,000 after purchasing an additional 5,378 shares during the period. Finally, Hunter Perkins Capital Management LLC lifted its stake in Elme Communities by 3.9% during the fourth 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. 87.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on ELME shares. Wells Fargo & Company raised their price target on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $19.00 to $18.00 in a research note on Tuesday, December 17th. Finally, Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th.

Elme Communities Stock Down 0.3 %

Shares of ELME stock opened at $17.39 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. Elme Communities has a 1 year low of $12.74 and a 1 year high of $18.49. The firm’s fifty day moving average price is $15.44 and its two-hundred day moving average price is $16.50. The firm has a market capitalization of $1.53 billion, a P/E ratio of -124.21 and a beta of 0.91.

Elme Communities (NYSE:ELME) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.23 EPS for the quarter, beating 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 predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Wednesday, March 19th. Elme Communities’s dividend payout ratio (DPR) is presently -514.29%.

Elme Communities Company 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.