Elme Communities (NYSE:ELME) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in Elme Communities (NYSE:ELME) by 1.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,182 shares of the company’s stock after selling 769 shares during the period. The Manufacturers Life Insurance Company’s holdings in Elme Communities were worth $1,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ELME. Archer Investment Corp grew its stake in Elme Communities by 308.2% in the second quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock worth $28,000 after purchasing an additional 1,350 shares in the last quarter. Fifth Third Bancorp grew its stake in Elme Communities by 438.1% in the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock worth $29,000 after purchasing an additional 1,494 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Elme Communities by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after acquiring an additional 885 shares during the last quarter. KBC Group NV lifted its holdings in Elme Communities by 51.8% in the third quarter. KBC Group NV now owns 4,526 shares of the company’s stock worth $80,000 after acquiring an additional 1,544 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Elme Communities by 888.4% in the third quarter. Blue Trust Inc. now owns 10,675 shares of the company’s stock worth $188,000 after acquiring an additional 9,595 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Price Performance

NYSE ELME opened at $16.52 on Wednesday. Elme Communities has a 12 month low of $12.74 and a 12 month high of $18.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $1.45 billion, a PE ratio of -110.10 and a beta of 0.89. The company’s 50 day simple moving average is $16.84 and its 200 day simple moving average is $16.66.

Elme Communities (NYSE:ELME) last posted its quarterly earnings results 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 business 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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. As a group, equities research analysts forecast that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.36%. The ex-dividend date is Thursday, December 19th. Elme Communities’s payout ratio is -480.00%.

Wall Street Analysts Forecast Growth

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

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.