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

Proficio Capital Partners LLC purchased a new position in shares of Elme Communities (NYSE:ELME) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,819 shares of the company’s stock, valued at approximately $180,000.

Other hedge funds have also recently modified their holdings of the company. Hunter Perkins Capital Management LLC increased its position in Elme Communities by 3.9% during 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. Public Employees Retirement System of Ohio boosted its stake in shares of Elme Communities by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company’s stock valued at $2,239,000 after buying an additional 954 shares in the last quarter. M&T Bank Corp grew its holdings in Elme Communities by 9.5% during the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after acquiring an additional 1,000 shares during the period. Van ECK Associates Corp raised its position in Elme Communities by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 16,669 shares of the company’s stock worth $255,000 after acquiring an additional 1,544 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Elme Communities by 1.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 108,900 shares of the company’s stock valued at $1,916,000 after acquiring an additional 1,600 shares during the period. 87.88% of the stock is owned by institutional investors and hedge funds.

Elme Communities Stock Down 0.5 %

Elme Communities stock opened at $17.27 on Friday. Elme Communities has a fifty-two week low of $13.30 and a fifty-two week high of $18.49. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -123.33 and a beta of 0.86. The stock’s fifty day moving average is $16.37 and its two-hundred day moving average is $16.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58.

Elme Communities (NYSE:ELME) last issued its quarterly earnings data 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%. Analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

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 dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.17%. Elme Communities’s dividend payout ratio (DPR) is -514.29%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ELME shares. Wells Fargo & Company upped 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. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $18.00 in a report on Tuesday, December 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.