Elme Communities $ELME Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its holdings in Elme Communities (NYSE:ELME) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,711,828 shares of the company’s stock after selling 138,157 shares during the quarter. William Blair Investment Management LLC owned approximately 1.94% of Elme Communities worth $27,218,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ELME. CWM LLC grew its position in Elme Communities by 240.1% in the 2nd quarter. CWM LLC now owns 2,078 shares of the company’s stock valued at $33,000 after buying an additional 1,467 shares during the last quarter. State of Wyoming purchased a new position in Elme Communities in the 1st quarter valued at $66,000. Hughes Financial Services LLC purchased a new position in Elme Communities in the 1st quarter valued at $81,000. PNC Financial Services Group Inc. grew its position in Elme Communities by 12.9% in the 1st 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 during the last quarter. Finally, Strs Ohio purchased a new position in Elme Communities in the 1st quarter valued at $287,000. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Elme Communities Trading Up 0.0%

NYSE:ELME opened at $16.75 on Monday. The company has a market capitalization of $1.48 billion, a PE ratio of -111.63 and a beta of 1.01. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.67. Elme Communities has a 52-week low of $13.95 and a 52-week high of $18.08. The stock has a fifty day simple moving average of $16.87 and a 200-day simple moving average of $16.23.

Elme Communities (NYSE:ELME) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $62.10 million during the quarter, compared to the consensus estimate of $61.63 million. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 EPS. On average, equities research analysts expect 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 was paid on Friday, October 3rd. Stockholders of record on Wednesday, September 17th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, September 17th. Elme Communities’s payout ratio is -480.00%.

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.