Elme Communities (NYSE:ELME) Position Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in Elme Communities (NYSE:ELME - Free Report) by 38.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,461,007 shares of the company's stock after acquiring an additional 407,607 shares during the quarter. Renaissance Technologies LLC owned 1.66% of Elme Communities worth $22,310,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Jane Street Group LLC boosted its stake in Elme Communities by 50.8% in the 3rd quarter. Jane Street Group LLC now owns 169,361 shares of the company's stock worth $2,979,000 after purchasing an additional 57,038 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Elme Communities by 1.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 108,900 shares of the company's stock worth $1,916,000 after buying an additional 1,600 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Elme Communities by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company's stock worth $2,239,000 after purchasing an additional 954 shares during the last quarter. Barclays PLC boosted its position in Elme Communities by 64.9% in the 3rd quarter. Barclays PLC now owns 177,438 shares of the company's stock valued at $3,121,000 after buying an additional 69,835 shares during the period. Finally, M&T Bank Corp increased its holdings in Elme Communities by 9.5% during the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company's stock worth $203,000 after purchasing an additional 1,000 shares during the period. 87.88% of the stock is currently owned by institutional investors.

Elme Communities Trading Up 0.3 %

ELME stock traded up $0.05 during trading on Friday, reaching $15.31. 401,506 shares of the stock were exchanged, compared to its average volume of 582,061. Elme Communities has a 1 year low of $13.95 and a 1 year high of $18.49. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -109.32 and a beta of 0.84. The business has a 50 day moving average price of $16.60 and a 200-day moving average price of $16.24. 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 issued its quarterly earnings results on Thursday, February 13th. The company reported $0.23 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%. On average, research analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Wednesday, March 19th. Elme Communities's payout ratio is currently -514.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased 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 note on Thursday, February 20th. Truist Financial raised shares of Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th.

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.