56,585 Shares in Elme Communities (NYSE:ELME) Purchased by Vanderbilt University

Vanderbilt University acquired a new stake in Elme Communities (NYSE:ELME - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 56,585 shares of the company's stock, valued at approximately $985,000. Vanderbilt University owned 0.06% of Elme Communities at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in Elme Communities by 817.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock valued at $43,000 after buying an additional 2,511 shares during the period. Metis Global Partners LLC purchased a new stake in Elme Communities in the 4th quarter valued at about $154,000. NewEdge Advisors LLC boosted its position in Elme Communities by 6,041.7% in the 4th quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock valued at $164,000 after buying an additional 10,573 shares during the period. Meridian Wealth Management LLC purchased a new stake in Elme Communities in the 4th quarter valued at about $171,000. Finally, Proficio Capital Partners LLC purchased a new stake in Elme Communities in the 4th quarter valued at about $180,000. 87.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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 research report on Thursday, February 20th.

Elme Communities Price Performance

Shares of ELME opened at $15.93 on Friday. The company has a 50 day moving average price of $15.87 and a 200-day moving average price of $15.95. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.49. The stock has a market capitalization of $1.40 billion, a PE ratio of -106.17 and a beta of 0.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.68.

Elme Communities (NYSE:ELME - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Elme Communities had a negative net margin of 5.79% and a negative return on equity of 1.30%. The firm had revenue of $61.49 million during the quarter, compared to analysts' expectations of $61.31 million. During the same quarter in the prior year, the company earned $0.23 EPS. The company's revenue was up 3.3% compared to the same quarter last year. Equities analysts predict that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, June 17th. This represents a $0.72 annualized dividend and a dividend yield of 4.52%. Elme Communities's payout ratio is presently -480.00%.

About Elme Communities

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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