Algert Global LLC Purchases 70,500 Shares of Elme Communities $ELME

Key Points

• Algert Global LLC significantly increased its holdings in Elme Communities by acquiring 70,500 shares, bringing its total to 129,860 shares, valued at approximately $2.26 million.
• Elme Communities recently declared a quarterly dividend of $0.18 per share, with the dividend yield at 4.3% and a notably high payout ratio of -480.00%.
• The company's stock is currently down 0.4%, with a market capitalization of $1.48 billion and projected earnings of $0.94 per share for the current fiscal year.

Algert Global LLC increased its stake in Elme Communities (NYSE:ELME - Free Report) by 118.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,860 shares of the company's stock after buying an additional 70,500 shares during the quarter. Algert Global LLC owned about 0.15% of Elme Communities worth $2,260,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in Elme Communities by 6.3% in the first quarter. American Century Companies Inc. now owns 37,420 shares of the company's stock worth $651,000 after buying an additional 2,218 shares during the last quarter. Aberdeen Group plc lifted its position in Elme Communities by 3.6% in the first quarter. Aberdeen Group plc now owns 23,774 shares of the company's stock worth $414,000 after buying an additional 828 shares during the last quarter. Fox Run Management L.L.C. lifted its position in Elme Communities by 80.0% in the first quarter. Fox Run Management L.L.C. now owns 42,984 shares of the company's stock worth $748,000 after buying an additional 19,103 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Elme Communities by 1,301.1% in the first quarter. Russell Investments Group Ltd. now owns 225,520 shares of the company's stock worth $3,924,000 after buying an additional 209,424 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its position in Elme Communities by 10.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 38,235 shares of the company's stock worth $661,000 after buying an additional 3,584 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors.

Elme Communities Trading Up 0.9%

ELME traded up $0.16 during trading on Wednesday, reaching $17.13. The company had a trading volume of 820,354 shares, compared to its average volume of 1,530,279. The stock has a market cap of $1.51 billion, a P/E ratio of -114.16 and a beta of 0.98. The business has a 50 day simple moving average of $16.24 and a 200-day simple moving average of $16.27. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.49. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.67.

Elme Communities (NYSE:ELME - Get Free Report) last issued its quarterly 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 company had revenue of $62.10 million during the quarter, compared to the consensus estimate of $61.63 million. During the same period last year, the company earned $0.23 earnings per share. Elme Communities's revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Wednesday, September 17th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, September 17th. 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.