Allspring Global Investments Holdings LLC Raises Holdings in Elme Communities (NYSE:ELME)

Allspring Global Investments Holdings LLC boosted its stake in Elme Communities (NYSE:ELME) by 1.0% during the third quarter, Holdings Channel.com reports. The firm owned 2,124,355 shares of the company’s stock after buying an additional 20,555 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Elme Communities were worth $37,367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELME. Renaissance Technologies LLC grew its holdings in shares of Elme Communities by 7.1% in the second quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company’s stock worth $16,508,000 after purchasing an additional 69,014 shares during the last quarter. GAMMA Investing LLC grew its holdings in Elme Communities by 149.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after acquiring an additional 1,725 shares during the last quarter. TCW Group Inc. increased its position in shares of Elme Communities by 123.8% in the second quarter. TCW Group Inc. now owns 123,104 shares of the company’s stock valued at $1,961,000 after acquiring an additional 68,103 shares during the period. ProShare Advisors LLC raised its stake in shares of Elme Communities by 7.4% during the first quarter. ProShare Advisors LLC now owns 17,722 shares of the company’s stock valued at $247,000 after acquiring an additional 1,218 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Elme Communities by 6.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,540 shares of the company’s stock worth $760,000 after purchasing an additional 3,152 shares during the period. Institutional investors own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ELME. Wells Fargo & Company boosted their price target on Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Wolfe Research began coverage on Elme Communities in a research note on Monday. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. upped their target price on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, September 16th.

Elme Communities Price Performance

Shares of NYSE ELME opened at $16.92 on Wednesday. Elme Communities has a 1 year low of $12.44 and a 1 year high of $18.49. The stock has a market capitalization of $1.49 billion, a P/E ratio of -27.73 and a beta of 0.90. The company’s 50-day moving average is $17.41 and its 200 day moving average is $16.30. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.26%. Elme Communities’s dividend payout ratio (DPR) is -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.