Elme Communities (NYSE:ELME) Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its stake in Elme Communities (NYSE:ELME) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,536 shares of the company’s stock after purchasing an additional 3,117 shares during the period. Inspire Investing LLC’s holdings in Elme Communities were worth $405,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased 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 buying an additional 885 shares during the period. KBC Group NV increased its stake in shares of Elme Communities by 51.8% during the third quarter. KBC Group NV now owns 4,526 shares of the company’s stock worth $80,000 after acquiring an additional 1,544 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Elme Communities during the third quarter worth about $86,000. Blue Trust Inc. lifted its position in Elme Communities by 888.4% in the third quarter. Blue Trust Inc. now owns 10,675 shares of the company’s stock valued at $188,000 after purchasing an additional 9,595 shares during the period. Finally, M&T Bank Corp boosted its holdings in Elme Communities by 9.5% in the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock valued at $203,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Performance

Shares of ELME stock opened at $14.64 on Friday. The stock has a fifty day moving average price of $15.55 and a 200 day moving average price of $16.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $1.29 billion, a PE ratio of -97.56 and a beta of 0.90. Elme Communities has a 1 year low of $12.74 and a 1 year high of $18.49.

Elme Communities (NYSE:ELME) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.27). The business had revenue of $61.06 million during the quarter, compared to analysts’ expectations of $60.31 million. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. Elme Communities’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Sell-side analysts forecast 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 was paid on Monday, January 6th. Stockholders 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 annualized dividend and a dividend yield of 4.92%. Elme Communities’s dividend payout ratio is presently -479.97%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ELME. Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Wolfe Research started coverage on Elme Communities in a report on Monday, October 21st. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th.

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.