Russell Investments Group Ltd. reduced its stake in Elme Communities (NYSE:ELME - Free Report) by 75.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,096 shares of the company's stock after selling 48,304 shares during the period. Russell Investments Group Ltd.'s holdings in Elme Communities were worth $246,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of ELME. Metis Global Partners LLC purchased a new position in Elme Communities during the 4th quarter valued at about $154,000. Meridian Wealth Management LLC bought a new position in Elme Communities in the 4th quarter worth $171,000. Proficio Capital Partners LLC bought a new position in shares of Elme Communities during the 4th quarter valued at about $180,000. M&T Bank Corp raised its position in shares of 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 in the last quarter. Finally, Entropy Technologies LP bought a new position in Elme Communities during the 4th quarter valued at about $197,000. 87.88% of the stock is owned by institutional investors.
Elme Communities Stock Up 1.0 %
NYSE ELME traded up $0.16 on Wednesday, reaching $15.57. The company had a trading volume of 1,075,723 shares, compared to its average volume of 582,450. 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 has a 1 year low of $13.95 and a 1 year high of $18.49. The firm has a 50-day moving average of $16.41 and a 200-day moving average of $16.14. The firm has a market capitalization of $1.37 billion, a PE ratio of -111.21 and a beta of 0.84.
Elme Communities (NYSE:ELME - Get Free Report) last posted its 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 return on equity of 1.18% and a negative net margin of 5.42%. On average, equities research analysts anticipate that Elme Communities will post 0.94 EPS for the current fiscal year.
Elme Communities Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 19th. This represents a $0.72 annualized dividend and a yield of 4.62%. Elme Communities's payout ratio is -514.29%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. 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 upped their price objective on Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th.
Check Out Our Latest Report on Elme Communities
Elme Communities Company Profile
(
Free Report)
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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