Connor Clark & Lunn Investment Management Ltd. Sells 2,157 Shares of Elme Communities (NYSE:ELME)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Elme Communities (NYSE:ELME) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,287 shares of the company’s stock after selling 2,157 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Elme Communities worth $814,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. KBC Group NV lifted its holdings in Elme Communities by 51.8% during the third quarter. KBC Group NV now owns 4,526 shares of the company’s stock valued at $80,000 after purchasing an additional 1,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Elme Communities during the third quarter valued at about $86,000. Metis Global Partners LLC purchased a new stake in Elme Communities during the fourth quarter valued at about $154,000. Meridian Wealth Management LLC purchased a new stake in Elme Communities during the fourth quarter valued at about $171,000. Finally, M&T Bank Corp lifted its holdings in Elme Communities by 9.5% during the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock valued at $203,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

ELME has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. downgraded shares of Elme Communities from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $19.00 to $18.00 in a report on Tuesday, December 17th. Finally, Truist Financial upgraded shares of Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th.

Elme Communities Price Performance

ELME stock opened at $17.08 on Friday. The firm has a 50 day moving average of $16.16 and a 200-day moving average of $16.49. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. Elme Communities has a 12 month low of $13.30 and a 12 month high of $18.49. The firm has a market capitalization of $1.50 billion, a P/E ratio of -121.96 and a beta of 0.86.

Elme Communities (NYSE:ELME) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. As a group, sell-side analysts predict that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.72 annualized dividend and a yield of 4.22%. Elme Communities’s payout ratio is presently -514.29%.

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.