16,500 Shares in Elme Communities $ELME Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired 16,500 shares of Elme Communities ($ELME), valued at approximately $287,000, marking a significant stake purchase in the 1st quarter.
• Elme Communities recently announced a $0.18 quarterly dividend with a dividend yield of 4.3%, payable on October 3rd to stockholders of record.
• Wall Street analysts have given Elme Communities a consensus rating of "Hold" with a target price of $18.50, despite a recent drop in share prices.

Strs Ohio purchased a new stake in Elme Communities (NYSE:ELME - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,500 shares of the company's stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELME. Bank of America Corp DE grew its holdings in Elme Communities by 14.4% in the 4th quarter. Bank of America Corp DE now owns 360,951 shares of the company's stock valued at $5,512,000 after buying an additional 45,509 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Elme Communities by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,043 shares of the company's stock valued at $764,000 after buying an additional 1,710 shares during the period. ProShare Advisors LLC grew its holdings in Elme Communities by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 26,524 shares of the company's stock valued at $405,000 after buying an additional 8,162 shares during the period. Two Sigma Investments LP grew its holdings in Elme Communities by 8.4% in the 4th quarter. Two Sigma Investments LP now owns 323,154 shares of the company's stock valued at $4,935,000 after buying an additional 25,003 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Elme Communities by 1,505.2% in the 1st quarter. GAMMA Investing LLC now owns 53,888 shares of the company's stock valued at $938,000 after buying an additional 50,531 shares during the period. Hedge funds and other institutional investors own 87.88% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial restated a "hold" rating on shares of Elme Communities in a report on Thursday, September 11th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $18.50.

Elme Communities Stock Down 0.7%

Shares of NYSE:ELME opened at $16.81 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.51 and a current ratio of 0.51. Elme Communities has a 1 year low of $13.95 and a 1 year high of $18.08. The stock has a market capitalization of $1.48 billion, a P/E ratio of -112.03 and a beta of 1.02. The stock has a 50-day simple moving average of $16.60 and a 200-day simple moving average of $16.28.

Elme Communities (NYSE:ELME - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The business had revenue of $62.10 million during the quarter, compared to analysts' expectations of $61.63 million. During the same quarter in the previous year, the business earned $0.23 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Wednesday, September 17th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, September 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.3%. Elme Communities's payout ratio is presently -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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