Jane Street Group LLC Acquires 57,038 Shares of Elme Communities (NYSE:ELME)

Jane Street Group LLC lifted its stake in Elme Communities (NYSE:ELME) by 50.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 169,361 shares of the company’s stock after buying an additional 57,038 shares during the period. Jane Street Group LLC’s holdings in Elme Communities were worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ELME. Archer Investment Corp grew its position in Elme Communities by 308.2% in the 2nd quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock worth $28,000 after purchasing an additional 1,350 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of 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 during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Elme Communities by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after buying an additional 885 shares in the last quarter. KBC Group NV increased its stake 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 acquiring an additional 1,544 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Elme Communities in the 3rd quarter valued at approximately $86,000. Institutional investors own 87.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ELME. JPMorgan Chase & Co. lowered Elme Communities from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $18.00 in a report on Tuesday. Wolfe Research started coverage on shares of Elme Communities in a report on Monday, October 21st. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th.

Elme Communities Trading Up 0.7 %

Shares of ELME opened at $14.98 on Friday. The stock has a 50 day simple moving average of $16.65 and a 200-day simple moving average of $16.66. 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 stock has a market cap of $1.32 billion, a PE ratio of -99.86 and a beta of 0.89. Elme Communities has a 1 year low of $12.74 and a 1 year high of $18.49.

Elme Communities (NYSE:ELME) last issued its 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). The firm had revenue of $61.06 million during the quarter, compared to analyst estimates of $60.31 million. Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, sell-side analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 19th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Thursday, December 19th. Elme Communities’s payout ratio is -480.00%.

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.