Zurcher Kantonalbank Zurich Cantonalbank Buys 16,840 Shares of Elme Communities (NYSE:ELME)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Elme Communities (NYSE:ELME) by 46.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 53,235 shares of the company’s stock after acquiring an additional 16,840 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Elme Communities were worth $813,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ELME. Hunter Perkins Capital Management LLC grew its position in shares of Elme Communities by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock valued at $354,000 after purchasing an additional 875 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Elme Communities by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company’s stock valued at $2,239,000 after purchasing an additional 954 shares during the last quarter. M&T Bank Corp grew its position in shares of Elme Communities by 9.5% in 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. KBC Group NV grew its position 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 valued at $80,000 after purchasing an additional 1,544 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Elme Communities by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 16,669 shares of the company’s stock valued at $255,000 after purchasing an additional 1,544 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors.

Elme Communities Stock Down 0.1 %

ELME stock opened at $17.08 on Friday. Elme Communities has a twelve month low of $13.30 and a twelve month high of $18.49. The company has a market cap of $1.50 billion, a PE ratio of -121.96 and a beta of 0.86. The business’s 50-day simple moving average is $16.16 and its 200 day simple moving average is $16.49. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65.

Elme Communities (NYSE:ELME) last released its earnings results on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates 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%. On average, research analysts anticipate that Elme Communities will post 0.94 earnings per share 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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Wednesday, March 19th. Elme Communities’s payout ratio is -514.29%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. downgraded 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 research report on Tuesday, December 17th. Wells Fargo & Company raised their price target on Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Finally, Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th.

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.