Allspring Global Investments Holdings LLC Sells 72,651 Shares of Elme Communities (NYSE:ELME)

Allspring Global Investments Holdings LLC lowered its position in shares of Elme Communities (NYSE:ELME - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,070,669 shares of the company's stock after selling 72,651 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.35% of Elme Communities worth $35,595,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ELME. William Blair Investment Management LLC lifted its holdings in shares of Elme Communities by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,934,863 shares of the company's stock worth $29,545,000 after buying an additional 46,755 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Elme Communities by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,730,227 shares of the company's stock valued at $26,421,000 after purchasing an additional 11,015 shares in the last quarter. Argosy Lionbridge Management LLC purchased a new stake in Elme Communities during the fourth quarter valued at $25,275,000. Northern Trust Corp raised its stake in Elme Communities by 54.9% during the fourth 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 in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Elme Communities by 38.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,461,007 shares of the company's stock valued at $22,310,000 after purchasing an additional 407,607 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company's stock.

Elme Communities Price Performance

Elme Communities stock traded up $0.06 during mid-day trading on Tuesday, reaching $15.96. 687,301 shares of the company's stock traded hands, compared to its average volume of 586,189. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -106.39 and a beta of 0.98. The stock has a 50 day moving average of $15.96 and a two-hundred day moving average of $15.91. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.66. Elme Communities has a 12-month low of $13.95 and a 12-month high of $18.49.

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

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Tuesday, June 17th. Elme Communities's dividend payout ratio (DPR) is -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.