SG Americas Securities LLC bought a new stake in Elme Communities (NYSE:ELME – Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 34,071 shares of the company’s stock, valued at approximately $599,000.
A number of other hedge funds also recently added to or reduced their stakes in ELME. EverSource Wealth Advisors LLC increased its holdings in Elme Communities by 162.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock valued at $27,000 after buying an additional 1,100 shares in the last quarter. Archer Investment Corp increased its holdings in Elme Communities by 308.2% in the second quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock valued at $28,000 after buying an additional 1,350 shares in the last quarter. Fifth Third Bancorp increased its holdings in Elme Communities by 438.1% in the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock valued at $29,000 after buying an additional 1,494 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Elme Communities by 149.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after purchasing an additional 1,725 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Elme Communities during the 1st quarter worth approximately $167,000. 87.88% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on ELME shares. JPMorgan Chase & Co. raised their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their price objective on shares of Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th.
Elme Communities Stock Down 0.3 %
ELME stock opened at $16.77 on Tuesday. The stock has a market capitalization of $1.48 billion, a P/E ratio of -27.49 and a beta of 0.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.55. Elme Communities has a one year low of $12.44 and a one year high of $18.49. The company has a 50 day moving average price of $17.41 and a two-hundred day moving average price of $16.16.
Elme Communities Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.72 annualized dividend and a yield of 4.29%. Elme Communities’s payout ratio is currently -118.03%.
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.
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