Elme Communities (NYSE:ELME) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its position in shares of Elme Communities (NYSE:ELME) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,554 shares of the company’s stock after selling 682 shares during the quarter. Sei Investments Co. owned approximately 0.06% of Elme Communities worth $773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Renaissance Technologies LLC grew its holdings in Elme Communities by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company’s stock valued at $16,508,000 after buying an additional 69,014 shares during the last quarter. GAMMA Investing LLC increased its position in Elme Communities by 149.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after purchasing an additional 1,725 shares in the last quarter. TCW Group Inc. raised its stake in Elme Communities by 123.8% in the 2nd quarter. TCW Group Inc. now owns 123,104 shares of the company’s stock valued at $1,961,000 after purchasing an additional 68,103 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Elme Communities by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 17,722 shares of the company’s stock valued at $247,000 after purchasing an additional 1,218 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Elme Communities by 6.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,540 shares of the company’s stock worth $760,000 after purchasing an additional 3,152 shares during the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ELME shares. Wells Fargo & Company boosted their price objective on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. lifted their target price on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th.

Elme Communities Stock Down 0.6 %

Shares of NYSE:ELME opened at $16.84 on Wednesday. Elme Communities has a 12-month low of $12.44 and a 12-month high of $18.49. The stock’s 50-day moving average price is $17.40 and its two-hundred day moving average price is $16.07. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -27.60 and a beta of 0.90.

Elme Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.28%. Elme Communities’s dividend payout ratio is presently -118.03%.

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.