Elme Communities (NYSE:ELME) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its stake in Elme Communities (NYSE:ELME) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,724 shares of the company’s stock after acquiring an additional 1,634 shares during the period. Asset Management One Co. Ltd. owned 0.24% of Elme Communities worth $3,707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ELME. V3 Capital Management L.P. acquired a new position in Elme Communities in the first quarter valued at approximately $13,738,000. DigitalBridge Group Inc. acquired a new position in shares of Elme Communities during the second quarter worth approximately $8,132,000. Hunter Perkins Capital Management LLC boosted its position in shares of Elme Communities by 990.8% during the second quarter. Hunter Perkins Capital Management LLC now owns 325,865 shares of the company’s stock worth $5,224,000 after buying an additional 295,990 shares during the period. William Blair Investment Management LLC boosted its position in shares of Elme Communities by 16.9% during the first quarter. William Blair Investment Management LLC now owns 1,950,033 shares of the company’s stock worth $27,144,000 after buying an additional 281,199 shares during the period. Finally, Anson Funds Management LP acquired a new position in shares of Elme Communities during the first quarter worth approximately $2,233,000. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ELME shares. JPMorgan Chase & Co. boosted their price objective on Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wolfe Research started coverage on Elme Communities in a research report on Monday, October 21st. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company boosted their price objective on Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th.

Elme Communities Stock Performance

ELME opened at $17.66 on Friday. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -117.73 and a beta of 0.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49. The business has a 50 day moving average price of $17.37 and a two-hundred day moving average price of $16.50.

Elme Communities (NYSE:ELME) last released its earnings results on Monday, November 4th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.27). The firm had revenue of $61.06 million during the quarter, compared to analyst estimates of $60.31 million. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. Research analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.08%. Elme Communities’s dividend payout ratio (DPR) is -479.97%.

About Elme Communities

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.