Elme Communities (NYSE:ELME) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in Elme Communities (NYSE:ELME) by 0.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 297,792 shares of the company’s stock after selling 827 shares during the period. Rhumbline Advisers owned about 0.34% of Elme Communities worth $4,744,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ELME. EverSource Wealth Advisors LLC raised its position in shares of Elme Communities by 162.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after acquiring an additional 1,100 shares during the period. Fifth Third Bancorp raised its position in shares of Elme Communities by 438.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock worth $29,000 after purchasing an additional 1,494 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Elme Communities by 149.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after purchasing an additional 1,725 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Elme Communities during the 1st quarter worth about $167,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Elme Communities by 9.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,995 shares of the company’s stock worth $190,000 after purchasing an additional 1,110 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their price target on shares of Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday.

Elme Communities Stock Up 1.8 %

ELME stock opened at $18.26 on Monday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -29.93 and a beta of 0.90. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. Elme Communities has a 12 month low of $12.44 and a 12 month high of $18.27. The firm has a 50-day moving average of $16.93 and a two-hundred day moving average of $15.54.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a yield of 3.94%. Elme Communities’s payout ratio is -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.