Elme Communities (NYSE:ELME) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its stake in Elme Communities (NYSE:ELME) by 25.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,930 shares of the company’s stock after selling 19,148 shares during the quarter. AlphaQuest LLC owned about 0.06% of Elme Communities worth $869,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ELME. Van ECK Associates Corp lifted its position in Elme Communities by 12.3% in the third quarter. Van ECK Associates Corp now owns 15,125 shares of the company’s stock valued at $263,000 after buying an additional 1,660 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Elme Communities by 5.7% during the third quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company’s stock worth $282,000 after purchasing an additional 867 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Elme Communities during the third quarter worth about $478,000. KBC Group NV lifted its position 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 purchasing an additional 1,544 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of Elme Communities by 49.3% during the third quarter. Quest Partners LLC now owns 76,078 shares of the company’s stock worth $1,338,000 after purchasing an additional 25,106 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $18.00 in a research report on Tuesday, December 17th. Wells Fargo & Company increased their price target on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Finally, Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th.

Elme Communities Stock Down 1.0 %

Shares of NYSE:ELME opened at $17.08 on Tuesday. The firm’s 50 day moving average price is $15.71 and its 200 day moving average price is $16.50. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -122.01 and a beta of 0.86. Elme Communities has a fifty-two week low of $12.81 and a fifty-two week high of $18.49. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65.

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

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors 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 annualized dividend and a yield of 4.22%. Elme Communities’s dividend payout ratio (DPR) is -514.29%.

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.