Bank of Montreal Can Acquires 22,150 Shares of Elme Communities (NYSE:ELME)

Bank of Montreal Can lifted its position in Elme Communities (NYSE:ELME - Free Report) by 21.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,682 shares of the company's stock after acquiring an additional 22,150 shares during the period. Bank of Montreal Can owned approximately 0.14% of Elme Communities worth $1,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Metis Global Partners LLC acquired a new stake in shares of Elme Communities during the fourth quarter worth about $154,000. Meridian Wealth Management LLC acquired a new stake in Elme Communities during the 4th quarter worth approximately $171,000. Proficio Capital Partners LLC bought a new position in Elme Communities in the fourth quarter valued at approximately $180,000. M&T Bank Corp lifted its stake in Elme Communities by 10.1% in the fourth quarter. M&T Bank Corp now owns 12,691 shares of the company's stock valued at $194,000 after buying an additional 1,166 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Elme Communities in the fourth quarter valued at approximately $197,000. Institutional investors own 87.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Truist Financial upgraded Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th.

Elme Communities Stock Up 2.1 %

Shares of NYSE ELME traded up $0.33 during midday trading on Tuesday, reaching $15.48. The company's stock had a trading volume of 627,835 shares, compared to its average volume of 579,288. The stock has a 50 day simple moving average of $16.59 and a 200-day simple moving average of $16.19. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -110.54 and a beta of 0.84. 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 issued its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. Equities research analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.72 annualized dividend and a yield of 4.65%. Elme Communities's dividend payout ratio (DPR) is presently -514.29%.

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.