Algert Global LLC Takes Position in Elme Communities (NYSE:ELME)

Algert Global LLC purchased a new position in Elme Communities (NYSE:ELME) in the fourth quarter, Holdings Channel.com reports. The firm purchased 59,360 shares of the company’s stock, valued at approximately $906,000.

Other hedge funds have also recently made changes to their positions in the company. Hunter Perkins Capital Management LLC grew its position in Elme Communities by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock worth $354,000 after purchasing an additional 875 shares during the period. M&T Bank Corp boosted its stake in shares of Elme Communities by 10.1% in the 4th quarter. M&T Bank Corp now owns 12,691 shares of the company’s stock worth $194,000 after buying an additional 1,166 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Elme Communities by 3.5% in the fourth quarter. American Century Companies Inc. now owns 35,202 shares of the company’s stock worth $538,000 after acquiring an additional 1,193 shares during the period. Van ECK Associates Corp increased its position in Elme Communities by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 16,669 shares of the company’s stock valued at $255,000 after acquiring an additional 1,544 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in Elme Communities by 817.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company’s stock valued at $43,000 after acquiring an additional 2,511 shares during the period. 87.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Wells Fargo & Company upped their target price on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th.

Elme Communities Stock Down 0.1 %

NYSE ELME opened at $15.99 on Friday. Elme Communities has a 52 week low of $13.95 and a 52 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. The company has a market capitalization of $1.41 billion, a P/E ratio of -114.21 and a beta of 0.96. The stock’s 50-day moving average price is $16.22 and its 200-day moving average price is $16.09.

Elme Communities (NYSE:ELME) last released its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $61.49 million for the quarter, compared to analysts’ expectations of $61.31 million. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS. On average, equities research analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Tuesday, June 17th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.50%. The ex-dividend date is Tuesday, June 17th. Elme Communities’s dividend payout ratio is currently -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.