Cubist Systematic Strategies LLC Decreases Stock Holdings in Elme Communities (NYSE:ELME)

Cubist Systematic Strategies LLC trimmed its position in shares of Elme Communities (NYSE:ELME - Free Report) by 24.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,147 shares of the company's stock after selling 21,240 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.07% of Elme Communities worth $980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Hunter Perkins Capital Management LLC raised its holdings in Elme Communities by 3.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company's stock valued at $354,000 after buying an additional 875 shares during the period. M&T Bank Corp raised its holdings in Elme Communities by 10.1% during the 4th 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 during the period. American Century Companies Inc. raised its holdings in Elme Communities by 3.5% during the 4th quarter. American Century Companies Inc. now owns 35,202 shares of the company's stock valued at $538,000 after buying an additional 1,193 shares during the period. Van ECK Associates Corp raised its holdings in Elme Communities by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 16,669 shares of the company's stock valued at $255,000 after buying an additional 1,544 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in Elme Communities by 817.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock valued at $43,000 after buying an additional 2,511 shares during the period. 87.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Elme Communities Stock Performance

Elme Communities stock opened at $15.63 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58. The company has a market capitalization of $1.38 billion, a PE ratio of -111.64 and a beta of 0.96. The company has a 50 day moving average price of $16.14 and a 200-day moving average price of $16.07. 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 earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $61.49 million during the quarter, compared to analyst estimates of $61.31 million. During the same period in the previous year, the company posted $0.23 EPS. Elme Communities's revenue was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Tuesday, June 17th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.72 annualized dividend and a dividend yield of 4.61%. Elme Communities's dividend payout ratio is currently -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.

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