Vanguard Group Inc. Sells 112,691 Shares of Elme Communities (NYSE:ELME)

Vanguard Group Inc. trimmed its holdings in shares of Elme Communities (NYSE:ELME) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,163,157 shares of the company’s stock after selling 112,691 shares during the period. Vanguard Group Inc. owned approximately 0.16% of Elme Communities worth $206,782,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Cbre Investment Management Listed Real Assets LLC raised its position in Elme Communities by 520.8% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 463,942 shares of the company’s stock worth $6,774,000 after buying an additional 389,207 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in Elme Communities in the 4th quarter worth approximately $3,942,000. HGI Capital Management LLC purchased a new stake in Elme Communities during the 4th quarter valued at $3,289,000. Qube Research & Technologies Ltd lifted its holdings in shares of Elme Communities by 486.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 181,428 shares of the company’s stock valued at $2,475,000 after buying an additional 150,470 shares during the period. Finally, Employees Retirement System of Texas purchased a new position in shares of Elme Communities in the 3rd quarter worth $1,228,000. 87.88% of the stock is owned by institutional investors.

Elme Communities Trading Up 0.5 %

Elme Communities stock opened at $15.68 on Wednesday. The stock has a 50-day moving average price of $15.51 and a 200 day moving average price of $14.62. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -25.70 and a beta of 0.89. Elme Communities has a 52 week low of $12.44 and a 52 week high of $17.19. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.60.

Elme Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Thursday, June 20th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Thursday, June 20th. Elme Communities’s dividend payout ratio is presently -118.03%.

Analyst Ratings Changes

Separately, Truist Financial lifted their target price on Elme Communities from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, May 15th.

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.