Charles Schwab Investment Management Inc. Acquires 11,015 Shares of Elme Communities (NYSE:ELME)

Charles Schwab Investment Management Inc. grew its holdings in shares of Elme Communities (NYSE:ELME) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 1,730,227 shares of the company’s stock after acquiring an additional 11,015 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Elme Communities were worth $26,421,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Elme Communities by 466.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 654,403 shares of the company’s stock worth $11,511,000 after purchasing an additional 538,857 shares during the period. FMR LLC grew its stake in shares of Elme Communities by 3.1% during the third quarter. FMR LLC now owns 5,637,288 shares of the company’s stock valued at $99,160,000 after buying an additional 171,486 shares during the last quarter. Martingale Asset Management L P bought a new position in shares of Elme Communities during the third quarter valued at about $1,535,000. Barclays PLC increased its holdings in shares of Elme Communities by 64.9% in the third quarter. Barclays PLC now owns 177,438 shares of the company’s stock worth $3,121,000 after buying an additional 69,835 shares during the period. Finally, LDR Capital Management LLC lifted its stake in shares of Elme Communities by 259.7% in the 4th quarter. LDR Capital Management LLC now owns 82,883 shares of the company’s stock valued at $1,266,000 after acquiring an additional 59,840 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ELME. Wells Fargo & Company lifted their price target on Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered shares of Elme Communities from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $18.00 in a report on Tuesday, December 17th.

Elme Communities Stock Up 1.0 %

Shares of NYSE:ELME opened at $17.43 on Tuesday. The stock’s 50-day moving average is $15.96 and its 200 day moving average is $16.49. The company has a market cap of $1.53 billion, a PE ratio of -124.46 and a beta of 0.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55. Elme Communities has a 1 year low of $12.81 and a 1 year high of $18.49.

Elme Communities (NYSE:ELME) last posted its earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. Sell-side analysts anticipate that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 annualized dividend and a yield of 4.13%. Elme Communities’s dividend payout ratio (DPR) is presently -514.29%.

Elme Communities 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.