Nomura Asset Management Co. Ltd. Increases Stock Position in Elme Communities (NYSE:ELME)

Nomura Asset Management Co. Ltd. lifted its position in shares of Elme Communities (NYSE:ELME) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,900 shares of the company’s stock after purchasing an additional 1,600 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Elme Communities were worth $1,916,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ELME. Jane Street Group LLC lifted its position in shares of Elme Communities by 50.8% during the 3rd quarter. Jane Street Group LLC now owns 169,361 shares of the company’s stock worth $2,979,000 after buying an additional 57,038 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Elme Communities during the third quarter worth $211,000. Centiva Capital LP bought a new stake in Elme Communities during the third quarter worth $826,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Elme Communities in the third quarter worth $86,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Elme Communities during the 3rd quarter valued at $541,000. 87.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ELME has been the topic of a number of research analyst reports. 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 report on Monday, September 16th. Wolfe Research assumed coverage on shares of Elme Communities in a research note on Monday, October 21st. They issued a “peer perform” rating on the stock. Finally, 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.

Elme Communities Trading Down 1.1 %

Shares of ELME opened at $16.34 on Friday. Elme Communities has a fifty-two week low of $12.74 and a fifty-two week high of $18.49. The business has a 50-day moving average of $16.79 and a 200 day moving average of $16.67. The firm has a market cap of $1.44 billion, a P/E ratio of -108.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.55 and a current ratio of 0.55.

Elme Communities (NYSE:ELME) last posted its earnings results on Monday, November 4th. The company reported ($0.03) earnings per share 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 revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, research analysts forecast that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, December 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.41%. Elme Communities’s dividend payout ratio is currently -479.97%.

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.