Marshall Wace LLP Cuts Stake in Elme Communities (NYSE:ELME)

Marshall Wace LLP cut its holdings in shares of Elme Communities (NYSE:ELME) by 97.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,200 shares of the company’s stock after selling 1,015,219 shares during the period. Marshall Wace LLP’s holdings in Elme Communities were worth $401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ELME. Thornburg Investment Management Inc. grew its stake in Elme Communities by 4.2% during the 1st quarter. Thornburg Investment Management Inc. now owns 2,455,668 shares of the company’s stock worth $34,183,000 after buying an additional 100,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Elme Communities by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,186,343 shares of the company’s stock worth $30,434,000 after acquiring an additional 28,717 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Elme Communities by 16.9% during the first quarter. William Blair Investment Management LLC now owns 1,950,033 shares of the company’s stock valued at $27,144,000 after acquiring an additional 281,199 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Elme Communities by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,259,876 shares of the company’s stock valued at $20,069,000 after purchasing an additional 17,387 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Elme Communities by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company’s stock worth $16,508,000 after purchasing an additional 69,014 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Performance

ELME opened at $16.81 on Friday. The firm has a 50 day moving average of $17.41 and a two-hundred day moving average of $16.08. The firm has a market capitalization of $1.48 billion, a PE ratio of -27.56 and a beta of 0.90. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. Elme Communities has a 12-month low of $12.44 and a 12-month high of $18.49.

Elme Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

ELME has been the subject of several research reports. 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 report on Friday, September 13th. JPMorgan Chase & Co. boosted their price target on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

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.