Nisa Investment Advisors LLC Sells 2,294 Shares of Elme Communities (NYSE:ELME)

Nisa Investment Advisors LLC lessened its position in Elme Communities (NYSE:ELMEFree Report) by 9.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 22,730 shares of the company’s stock after selling 2,294 shares during the period. Nisa Investment Advisors LLC’s holdings in Elme Communities were worth $352,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Elme Communities by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after purchasing an additional 885 shares during the period. KBC Group NV raised its holdings in shares of 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 buying an additional 1,544 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Elme Communities during the third quarter valued at $86,000. Blue Trust Inc. grew its holdings in shares of 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 purchasing an additional 9,595 shares during the last quarter. Finally, M&T Bank Corp increased its stake in Elme Communities by 9.5% in the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after buying an additional 1,000 shares during the period. Institutional investors own 87.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ELME. JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $18.00 in a research report on Tuesday, December 17th. Wolfe Research began coverage on shares of Elme Communities in a research note on Monday, October 21st. They set a “peer perform” rating for the company. Finally, Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th.

Get Our Latest Report on ELME

Elme Communities Trading Down 1.1 %

ELME opened at $14.91 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -99.36 and a beta of 0.90. Elme Communities has a 12 month low of $12.74 and a 12 month high of $18.49. The stock has a fifty day moving average price of $15.50 and a 200-day moving average price of $16.55.

Elme Communities (NYSE:ELMEGet Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.27). Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The firm had revenue of $61.06 million for the quarter, compared to analysts’ expectations of $60.31 million. During the same period in the previous year, the company posted $0.24 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Thursday, December 19th were paid a $0.18 dividend. The ex-dividend date was Thursday, December 19th. This represents a $0.72 annualized dividend and a yield of 4.83%. Elme Communities’s dividend payout ratio (DPR) is -479.97%.

Elme Communities Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elme Communities (NYSE:ELME)

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