Allspring Global Investments Holdings LLC Buys 28,717 Shares of Elme Communities (NYSE:ELME)

Allspring Global Investments Holdings LLC lifted its stake in Elme Communities (NYSE:ELME) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,186,343 shares of the company’s stock after acquiring an additional 28,717 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Elme Communities were worth $30,434,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Separately, Truist Financial increased their price objective on shares of Elme Communities from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, May 15th.

Elme Communities Price Performance

NYSE ELME opened at $15.35 on Friday. The business’s fifty day moving average is $15.52 and its 200 day moving average is $14.63. Elme Communities has a fifty-two week low of $12.44 and a fifty-two week high of $17.19. The company has a current ratio of 0.64, a quick 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 was paid on Wednesday, July 3rd. Stockholders of record on Thursday, June 20th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, June 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.69%. Elme Communities’s payout ratio is currently -118.03%.

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.