Amalgamated Bank Has $459,000 Position in Elme Communities (NYSE:ELME)

Amalgamated Bank cut its holdings in Elme Communities (NYSE:ELME) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,091 shares of the company’s stock after selling 770 shares during the quarter. Amalgamated Bank’s holdings in Elme Communities were worth $459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in Elme Communities by 162.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after purchasing an additional 1,100 shares in the last quarter. Archer Investment Corp boosted its position in shares of Elme Communities by 308.2% during the second quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock worth $28,000 after buying an additional 1,350 shares during the period. Fifth Third Bancorp grew its holdings in shares of Elme Communities by 438.1% during the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock worth $29,000 after buying an additional 1,494 shares in the last quarter. GAMMA Investing LLC raised its position in Elme Communities by 149.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $46,000 after buying an additional 1,725 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Elme Communities by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock valued at $60,000 after acquiring an additional 885 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Trading Down 1.6 %

Shares of Elme Communities stock opened at $16.30 on Friday. The stock has a market cap of $1.43 billion, a P/E ratio of -108.66 and a beta of 0.89. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.63. Elme Communities has a 12-month low of $12.74 and a 12-month high of $18.49. The business’s 50 day moving average is $17.30 and its 200-day moving average is $16.56.

Elme Communities (NYSE:ELME) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The firm had revenue of $61.06 million for the quarter, compared to the consensus estimate of $60.31 million. During the same period last year, the company posted $0.24 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 19th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Thursday, December 19th. Elme Communities’s payout ratio is currently -479.97%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ELME shares. Wells Fargo & Company raised their price target on shares of Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Wolfe Research began coverage on shares of Elme Communities in a research report on Monday, October 21st. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th.

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.