Allianz Asset Management GmbH Invests $924,000 in Elme Communities (NYSE:ELME)

Key Points

• Allianz Asset Management GmbH has acquired a new stake in Elme Communities, purchasing 53,093 shares valued at approximately $924,000 in the first quarter.
• Institutional investors now own 87.88% of Elme Communities, with significant increases in stakes from firms like Sterling Capital Management and NewEdge Advisors.
• Elme Communities reported a quarterly earnings result of $0.24 EPS, slightly surpassing analysts' predictions, with revenue increasing by 3.3% year-over-year.

Allianz Asset Management GmbH purchased a new position in Elme Communities (NYSE:ELME - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,093 shares of the company's stock, valued at approximately $924,000. Allianz Asset Management GmbH owned 0.06% of Elme Communities as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sterling Capital Management LLC grew its holdings in Elme Communities by 817.9% during 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 in the last quarter. Hughes Financial Services LLC bought a new position in shares of Elme Communities in the first quarter worth about $81,000. NewEdge Advisors LLC grew its position in shares of Elme Communities by 6,041.7% during the fourth quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock worth $164,000 after purchasing an additional 10,573 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Elme Communities during the 4th quarter valued at approximately $205,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Elme Communities in the 4th quarter worth approximately $253,000. Institutional investors own 87.88% of the company's stock.

Elme Communities Trading Up 7.6%

Shares of ELME stock traded up $1.15 on Monday, reaching $16.26. 1,761,503 shares of the company's stock were exchanged, compared to its average volume of 647,860. The stock has a market capitalization of $1.43 billion, a PE ratio of -108.26 and a beta of 0.98. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.49. The company's fifty day simple moving average is $16.05 and its 200 day simple moving average is $16.08.

Elme Communities (NYSE:ELME - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $61.49 million during the quarter, compared to analysts' expectations of $61.31 million. Elme Communities had a negative return on equity of 1.30% and a negative net margin of 5.79%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. As a group, analysts forecast that Elme Communities will post 0.94 EPS for the current year.

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.