Elme Communities (NYSE:ELME) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its position in Elme Communities (NYSE:ELME - Free Report) by 54.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,510,239 shares of the company's stock after purchasing an additional 535,440 shares during the period. Northern Trust Corp owned about 1.72% of Elme Communities worth $23,061,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ELME. Allspring Global Investments Holdings LLC grew its position in shares of Elme Communities by 0.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,143,320 shares of the company's stock valued at $32,321,000 after purchasing an additional 18,965 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Elme Communities by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,934,863 shares of the company's stock worth $29,545,000 after acquiring an additional 46,755 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Elme Communities by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,730,227 shares of the company's stock valued at $26,421,000 after acquiring an additional 11,015 shares in the last quarter. Argosy Lionbridge Management LLC acquired a new stake in shares of Elme Communities during the fourth quarter valued at $25,275,000. Finally, Renaissance Technologies LLC increased its position in Elme Communities by 38.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,461,007 shares of the company's stock worth $22,310,000 after purchasing an additional 407,607 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ELME shares. Truist Financial upgraded shares of Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Wells Fargo & Company raised their target price on shares of Elme Communities from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th.

Elme Communities Trading Up 0.2%

NYSE:ELME traded up $0.03 during trading hours on Friday, reaching $16.25. 459,461 shares of the company were exchanged, compared to its average volume of 579,896. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -116.04 and a beta of 0.96. The stock has a 50 day simple moving average of $16.12 and a 200 day simple moving average of $16.06. Elme Communities has a 52-week low of $13.95 and a 52-week high of $18.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55.

Elme Communities (NYSE:ELME - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, topping 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 company had revenue of $61.49 million for the quarter, compared to the consensus estimate of $61.31 million. During the same period last year, the business posted $0.23 EPS. The company's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The firm also recently declared 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 yield of 4.43%. Elme Communities's dividend payout ratio (DPR) is -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.