M&T Bank Corp Grows Stake in Elme Communities (NYSE:ELME)

M&T Bank Corp boosted its position in shares of Elme Communities (NYSE:ELME) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,691 shares of the company’s stock after purchasing an additional 1,166 shares during the quarter. M&T Bank Corp’s holdings in Elme Communities were worth $194,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. KBC Group NV increased its holdings in shares of Elme Communities by 51.8% in 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 period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Elme Communities in the 3rd quarter valued at $86,000. Metis Global Partners LLC purchased a new position in shares of Elme Communities in the 4th quarter valued at $154,000. Meridian Wealth Management LLC purchased a new position in shares of Elme Communities in the 4th quarter valued at $171,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Elme Communities in the 4th quarter valued at $180,000. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Stock Up 2.0 %

Elme Communities stock opened at $17.24 on Friday. 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 stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -123.11 and a beta of 0.86. Elme Communities has a 1-year low of $12.81 and a 1-year high of $18.49. The business has a fifty day moving average price of $15.91 and a 200-day moving average price of $16.49.

Elme Communities (NYSE:ELME) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share 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%. Equities research analysts forecast that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.18%. Elme Communities’s dividend payout ratio is currently -514.29%.

Analyst Ratings Changes

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

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.