William Blair Investment Management LLC Has $30.99 Million Position in Elme Communities (NYSE:ELME)

William Blair Investment Management LLC lessened its stake in shares of Elme Communities (NYSE:ELME) by 0.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,945,503 shares of the company’s stock after selling 4,530 shares during the period. William Blair Investment Management LLC owned 2.21% of Elme Communities worth $30,992,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ELME. Victory Capital Management Inc. raised its holdings in Elme Communities by 11.8% during the fourth quarter. Victory Capital Management Inc. now owns 20,039 shares of the company’s stock worth $293,000 after buying an additional 2,117 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Elme Communities by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,557,836 shares of the company’s stock worth $22,744,000 after buying an additional 49,403 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Elme Communities during the fourth quarter worth $364,000. Nomura Asset Management Co. Ltd. raised its holdings in Elme Communities by 1.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 99,300 shares of the company’s stock worth $1,450,000 after buying an additional 1,500 shares during the last quarter. Finally, Evoke Wealth LLC acquired a new position in Elme Communities during the fourth quarter worth $597,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Elme Communities Stock Performance

Shares of ELME stock opened at $18.26 on Monday. The firm has a 50-day moving average of $16.93 and a 200-day moving average of $15.54. The company has a market cap of $1.61 billion, a P/E ratio of -29.93 and a beta of 0.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.55 and a quick ratio of 0.55. Elme Communities has a one year low of $12.44 and a one year high of $18.27.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders 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 annualized dividend and a dividend yield of 3.94%. Elme Communities’s dividend payout ratio is currently -118.03%.

Elme Communities Company 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.