Nisa Investment Advisors LLC Sells 2,294 Shares of Elme Communities (NYSE:ELME)

Nisa Investment Advisors LLC reduced its holdings in Elme Communities (NYSE:ELME) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,730 shares of the company’s stock after selling 2,294 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Elme Communities were worth $352,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ELME. Verdence Capital Advisors LLC lifted its holdings in Elme Communities by 5.7% in the third quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company’s stock worth $282,000 after buying an additional 867 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 purchasing an additional 885 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Elme Communities by 0.8% during 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 purchasing an additional 954 shares in the last quarter. M&T Bank Corp grew its holdings in Elme Communities by 9.5% in the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after purchasing an additional 1,000 shares during the period. Finally, Inspire Investing LLC increased its position in Elme Communities by 5.9% during the 3rd quarter. Inspire Investing LLC now owns 23,419 shares of the company’s stock valued at $412,000 after buying an additional 1,300 shares in the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Elme Communities Stock Down 1.1 %

ELME opened at $14.91 on Thursday. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -99.36 and a beta of 0.90. The firm has a 50 day moving average price of $15.50 and a 200-day moving average price of $16.55. Elme Communities has a twelve month low of $12.74 and a twelve month high of $18.49. 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 (NYSE:ELME) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $61.06 million during the quarter, compared to analysts’ expectations of $60.31 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Thursday, December 19th were given a $0.18 dividend. The ex-dividend date was Thursday, December 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.83%. Elme Communities’s payout ratio is currently -479.97%.

Analyst Ratings Changes

ELME has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $19.00 to $18.00 in a report on Tuesday, December 17th. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Wolfe Research initiated coverage on shares of Elme Communities in a report on Monday, October 21st. They set a “peer perform” rating on the stock.

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.