Yoffe Investment Management LLC Purchases New Shares in Elme Communities (NYSE:ELME)

Yoffe Investment Management LLC bought a new position in Elme Communities (NYSE:ELME - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 21,696 shares of the company's stock, valued at approximately $331,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ELME. Sterling Capital Management LLC lifted its stake in shares of Elme Communities by 817.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock worth $43,000 after buying an additional 2,511 shares in the last quarter. Metis Global Partners LLC bought a new position in shares of Elme Communities in the fourth quarter worth approximately $154,000. NewEdge Advisors LLC lifted its stake in shares of Elme Communities by 6,041.7% in the fourth quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock worth $164,000 after buying an additional 10,573 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of Elme Communities in the fourth quarter worth approximately $171,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Elme Communities in the fourth quarter worth approximately $180,000. 87.88% of the stock is owned by hedge funds and other institutional investors.

Elme Communities Stock Up 0.4%

Shares of Elme Communities stock traded up $0.06 on Friday, reaching $16.07. The stock had a trading volume of 1,192,469 shares, compared to its average volume of 582,957. The company has a 50 day moving average price of $15.86 and a 200 day moving average price of $15.97. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65. Elme Communities has a 1 year low of $13.95 and a 1 year high of $18.49. The stock has a market capitalization of $1.42 billion, a P/E ratio of -114.79 and a beta of 0.96.

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, beating the consensus estimate of $0.23 by $0.01. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. The business had revenue of $61.49 million for the quarter, compared to the consensus estimate of $61.31 million. During the same period in the prior year, the firm earned $0.23 EPS. The business's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Tuesday, June 17th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Tuesday, June 17th. Elme Communities's dividend payout ratio (DPR) is -480.00%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th.

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.