Penserra Capital Management LLC Reduces Stock Holdings in Elme Communities (NYSE:ELME)

Penserra Capital Management LLC cut its holdings in Elme Communities (NYSE:ELME) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,701 shares of the company’s stock after selling 1,018 shares during the period. Penserra Capital Management LLC’s holdings in Elme Communities were worth $680,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in shares of Elme Communities by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 44,300 shares of the company’s stock valued at $706,000 after purchasing an additional 800 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Elme Communities by 6.8% during the 2nd quarter. Van ECK Associates Corp now owns 13,465 shares of the company’s stock worth $214,000 after purchasing an additional 858 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Elme Communities by 5.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company’s stock valued at $282,000 after buying an additional 867 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Elme Communities by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock valued at $60,000 after buying an additional 885 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Elme Communities by 162.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after buying an additional 1,100 shares in the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.

Elme Communities Trading Up 1.6 %

Shares of ELME stock opened at $16.95 on Thursday. The firm’s 50-day simple moving average is $17.04 and its 200-day simple moving average is $16.60. 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 firm has a market cap of $1.49 billion, a P/E ratio of -112.99 and a beta of 0.89.

Elme Communities (NYSE:ELME) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). The company had revenue of $61.06 million for the quarter, compared to analysts’ expectations of $60.31 million. Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. As a group, equities analysts forecast that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 19th will be issued 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 dividend yield of 4.25%. Elme Communities’s dividend payout ratio (DPR) is -479.97%.

Analyst Ratings Changes

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

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.