Elme Communities (NYSE:ELME) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its stake in Elme Communities (NYSE:ELME) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,942 shares of the company’s stock after selling 1,500 shares during the period. New York State Common Retirement Fund’s holdings in Elme Communities were worth $442,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ELME. Verdence Capital Advisors LLC grew its position in Elme Communities by 5.7% in the third quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company’s stock valued at $282,000 after acquiring an additional 867 shares in the last quarter. Hunter Perkins Capital Management LLC boosted its stake in shares of Elme Communities by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock valued at $354,000 after purchasing an additional 875 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Elme Communities by 35.0% in the third 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 grew its holdings in Elme Communities by 0.8% during the 3rd 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. Finally, M&T Bank Corp increased its stake in Elme Communities by 9.5% during the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELME. Wells Fargo & Company upped their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $18.00 in a report on Tuesday, December 17th.

Elme Communities Price Performance

Shares of ELME stock opened at $17.19 on Wednesday. The firm has a fifty day moving average of $15.54 and a two-hundred day moving average of $16.49. The firm has a market cap of $1.51 billion, a P/E ratio of -122.75 and a beta of 0.91. Elme Communities has a 1-year low of $12.77 and a 1-year high of $18.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55.

Elme Communities (NYSE:ELME) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. As a group, research analysts anticipate that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.19%. Elme Communities’s dividend payout ratio (DPR) is -514.29%.

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.