Elme Communities $ELME Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its position in shares of Elme Communities (NYSE:ELME) by 24.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,632 shares of the company’s stock after acquiring an additional 4,824 shares during the quarter. Inspire Investing LLC’s holdings in Elme Communities were worth $392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Elme Communities during the first quarter worth about $66,000. Hughes Financial Services LLC acquired a new stake in shares of Elme Communities in the first quarter valued at about $81,000. PNC Financial Services Group Inc. grew its stake in shares of Elme Communities by 12.9% in the first quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company’s stock valued at $177,000 after buying an additional 1,164 shares in the last quarter. Strs Ohio acquired a new stake in shares of Elme Communities in the first quarter valued at about $287,000. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Elme Communities by 20.7% in the second quarter. KLP Kapitalforvaltning AS now owns 19,800 shares of the company’s stock valued at $317,000 after buying an additional 3,400 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELME has been the subject of a number of recent research reports. Truist Financial reiterated a “hold” rating on shares of Elme Communities in a research note on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of Elme Communities in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Elme Communities from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Elme Communities has an average rating of “Hold” and an average price target of $18.50.

Elme Communities Trading Up 1.2%

NYSE:ELME opened at $16.80 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $16.84 and its two-hundred day moving average is $16.24. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.08. The company has a market cap of $1.48 billion, a PE ratio of -111.99 and a beta of 1.01.

Elme Communities (NYSE:ELME) last released its earnings results on Tuesday, August 5th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The company had revenue of $62.10 million for the quarter, compared to the consensus estimate of $61.63 million. During the same quarter last year, the business posted $0.23 EPS. Elme Communities’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Wednesday, September 17th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.72 annualized dividend and a dividend yield of 4.3%. Elme Communities’s dividend payout ratio (DPR) is -480.00%.

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.