Proficio Capital Partners LLC Takes Position in Elme Communities (NYSE:ELME)

Proficio Capital Partners LLC acquired a new position in Elme Communities (NYSE:ELME) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,819 shares of the company’s stock, valued at approximately $180,000.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Elme Communities by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 15,125 shares of the company’s stock worth $263,000 after acquiring an additional 1,660 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings 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 in the last quarter. MQS Management LLC purchased a new stake in shares of Elme Communities during the third quarter valued at about $478,000. KBC Group NV lifted its position in shares of Elme Communities by 51.8% during the third quarter. KBC Group NV now owns 4,526 shares of the company’s stock valued at $80,000 after buying an additional 1,544 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of Elme Communities by 49.3% in the 3rd quarter. Quest Partners LLC now owns 76,078 shares of the company’s stock worth $1,338,000 after buying an additional 25,106 shares during the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Trading Up 0.3 %

NYSE ELME opened at $17.03 on Thursday. Elme Communities has a 12-month low of $12.81 and a 12-month high of $18.49. The company has a fifty day simple moving average of $15.79 and a two-hundred day simple moving average of $16.49. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.50 billion, a P/E ratio of -121.61 and a beta of 0.86.

Elme Communities (NYSE:ELME) last issued its earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. On average, analysts forecast that Elme Communities will post 0.94 earnings per share for the current 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 issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Wednesday, March 19th. Elme Communities’s dividend payout ratio (DPR) is -514.29%.

Wall Street Analyst Weigh In

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

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.