Quantbot Technologies LP Sells 70,126 Shares of Elme Communities (NYSE:ELME)

Quantbot Technologies LP reduced its holdings in shares of Elme Communities (NYSE:ELME) by 91.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,586 shares of the company’s stock after selling 70,126 shares during the quarter. Quantbot Technologies LP’s holdings in Elme Communities were worth $101,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Elme Communities during the third quarter worth $86,000. Metis Global Partners LLC bought a new stake in Elme Communities during the 4th quarter worth $154,000. Meridian Wealth Management LLC acquired a new position in Elme Communities in the 4th quarter worth about $171,000. M&T Bank Corp raised its position in Elme Communities by 9.5% in the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock valued at $203,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Elme Communities during the fourth quarter worth about $180,000. 87.88% of the stock is owned by institutional investors and hedge funds.

Elme Communities Price Performance

Shares of ELME opened at $17.41 on Tuesday. The business has a 50-day moving average of $16.47 and a 200-day moving average of $16.45. 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 capitalization of $1.53 billion, a price-to-earnings ratio of -124.32 and a beta of 0.86. Elme Communities has a 1 year low of $13.30 and a 1 year high of $18.49.

Elme Communities (NYSE:ELME) last posted 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%. As a group, equities research analysts anticipate that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be issued 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 4.14%. Elme Communities’s payout ratio is currently -514.29%.

Analyst Upgrades and Downgrades

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

Elme Communities 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.