Elme Communities $ELME Shares Bought by Algert Global LLC

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 lifted its position in Elme Communities (NYSE:ELME - Free Report) by 118.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,860 shares of the company's stock after purchasing an additional 70,500 shares during the quarter. Algert Global LLC owned approximately 0.15% of Elme Communities worth $2,260,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ELME. Argosy Lionbridge Management LLC acquired a new stake in shares of Elme Communities in the fourth quarter valued at approximately $25,275,000. Northern Trust Corp raised its position in Elme Communities by 54.9% in the 4th quarter. Northern Trust Corp now owns 1,510,239 shares of the company's stock valued at $23,061,000 after purchasing an additional 535,440 shares during the last quarter. Nuveen LLC purchased a new stake in Elme Communities in the 1st quarter valued at $16,613,000. Balyasny Asset Management L.P. boosted its stake in Elme Communities by 34.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 899,141 shares of the company's stock worth $13,730,000 after purchasing an additional 228,419 shares during the period. Finally, Principal Financial Group Inc. grew its position in Elme Communities by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 438,383 shares of the company's stock worth $7,628,000 after purchasing an additional 11,581 shares during the last quarter. Hedge funds and other institutional investors own 87.88% of the company's stock.

Elme Communities Stock Performance

Shares of NYSE:ELME traded up $0.1850 on Friday, reaching $16.9550. The company's stock had a trading volume of 1,928,185 shares, compared to its average volume of 1,474,761. Elme Communities has a 52-week low of $13.95 and a 52-week high of $18.49. The stock has a market capitalization of $1.49 billion, a P/E ratio of -113.03 and a beta of 0.98. The stock's 50-day moving average is $16.18 and its two-hundred day moving average is $16.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.51 and a quick ratio of 0.51.

Elme Communities (NYSE:ELME - Get Free Report) last released 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. The firm had revenue of $62.10 million for the quarter, compared to analyst estimates of $61.63 million. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The business's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. As a group, sell-side analysts forecast that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The business 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 $0.18 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.2%. Elme Communities's payout ratio is presently -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.