Algert Global LLC Buys Shares of 59,360 Elme Communities (NYSE:ELME)

Algert Global LLC purchased a new position in shares of Elme Communities (NYSE:ELME - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 59,360 shares of the company's stock, valued at approximately $906,000. Algert Global LLC owned 0.07% of Elme Communities as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp boosted its position in Elme Communities by 54.9% during the 4th quarter. Northern Trust Corp now owns 1,510,239 shares of the company's stock worth $23,061,000 after acquiring an additional 535,440 shares during the period. Tudor Investment Corp ET AL acquired a new position in Elme Communities during the 4th quarter worth $205,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Elme Communities in the 4th quarter worth $2,422,000. Nebula Research & Development LLC bought a new stake in shares of Elme Communities in the 4th quarter worth $588,000. Finally, Argosy Lionbridge Management LLC bought a new stake in shares of Elme Communities in the 4th quarter worth $25,275,000. Institutional investors and hedge funds own 87.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ELME shares. Wells Fargo & Company boosted their price objective 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 Elme Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 17th.

Elme Communities Trading Down 1.8%

Shares of Elme Communities stock traded down $0.28 on Wednesday, reaching $15.63. 536,687 shares of the company were exchanged, compared to its average volume of 580,560. The stock has a fifty day moving average price of $16.14 and a 200-day moving average price of $16.07. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -111.64 and a beta of 0.96. 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 fifty-two week low of $13.95 and a fifty-two week high of $18.49.

Elme Communities (NYSE:ELME - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $61.49 million for the quarter, compared to analyst estimates of $61.31 million. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. Elme Communities's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. On average, analysts expect that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date is Tuesday, June 17th. Elme Communities's dividend payout ratio (DPR) is presently -480.00%.

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.