Balyasny Asset Management L.P. Raises Stock Holdings in Elme Communities (NYSE:ELME)

Balyasny Asset Management L.P. grew its holdings in Elme Communities (NYSE:ELME - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 899,141 shares of the company's stock after buying an additional 228,419 shares during the quarter. Balyasny Asset Management L.P. owned approximately 1.02% of Elme Communities worth $13,730,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC boosted its stake in Elme Communities by 64.9% during the third quarter. Barclays PLC now owns 177,438 shares of the company's stock worth $3,121,000 after acquiring an additional 69,835 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Elme Communities during the third quarter valued at $377,000. Inspire Investing LLC grew its stake in shares of Elme Communities by 13.3% in the fourth quarter. Inspire Investing LLC now owns 26,536 shares of the company's stock worth $405,000 after acquiring an additional 3,117 shares during the period. Blue Trust Inc. grew its position in Elme Communities by 58.5% in the 4th quarter. Blue Trust Inc. now owns 16,917 shares of the company's stock worth $258,000 after purchasing an additional 6,242 shares during the period. Finally, Hunter Perkins Capital Management LLC increased its position in Elme Communities by 3.9% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company's stock valued at $354,000 after acquiring an additional 875 shares during the last quarter. Institutional investors own 87.88% of the company's stock.

Elme Communities Stock Performance

NYSE ELME traded down $0.01 on Friday, reaching $15.99. 402,316 shares of the stock were exchanged, compared to its average volume of 581,224. The firm has a market capitalization of $1.41 billion, a PE ratio of -114.21 and a beta of 0.96. Elme Communities has a one year low of $13.95 and a one year high of $18.49. The company's 50-day simple moving average is $16.22 and its two-hundred day simple moving average is $16.08. 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 (NYSE:ELME - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. The firm had revenue of $61.49 million during the quarter, compared to analysts' expectations of $61.31 million. During the same quarter last year, the business posted $0.23 earnings per share. The firm's revenue was up 3.3% on a year-over-year basis. Analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Tuesday, June 17th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.50%. Elme Communities's dividend payout ratio is -480.00%.

Analysts Set New Price Targets

A number of brokerages have commented on ELME. Truist Financial raised shares of Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Wells Fargo & Company upped 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.

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.