58,267 Shares in Elme Communities $ELME Bought by Allstate Corp

Key Points

• Allstate Corp recently acquired a new stake in Elme Communities, purchasing 58,267 shares valued at approximately $1,014,000, increasing its ownership to about 0.07% as of the latest SEC filing.
• Elme Communities announced a quarterly dividend of $0.18 per share, with an annualized yield of 4.2%, to be paid out on October 3rd, following a record date on September 17th.
• Elme Communities reported a quarterly revenue of $62.1 million, exceeding analysts' estimates, with a slight year-over-year increase of 3.3% in revenue.

Allstate Corp purchased a new position in shares of Elme Communities (NYSE:ELME - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 58,267 shares of the company's stock, valued at approximately $1,014,000. Allstate Corp owned 0.07% of Elme Communities as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ELME. GAMMA Investing LLC lifted its position in Elme Communities by 1,505.2% in the 1st quarter. GAMMA Investing LLC now owns 53,888 shares of the company's stock worth $938,000 after buying an additional 50,531 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Elme Communities during the first quarter worth $924,000. Bank of America Corp DE raised its holdings in shares of Elme Communities by 14.4% during the fourth quarter. Bank of America Corp DE now owns 360,951 shares of the company's stock worth $5,512,000 after acquiring an additional 45,509 shares in the last quarter. Two Sigma Investments LP grew its stake in Elme Communities by 8.4% in the fourth quarter. Two Sigma Investments LP now owns 323,154 shares of the company's stock valued at $4,935,000 after purchasing an additional 25,003 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC increased its position in Elme Communities by 173.1% in the 1st quarter. Hunter Perkins Capital Management LLC now owns 63,410 shares of the company's stock worth $1,103,000 after purchasing an additional 40,195 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Elme Communities Stock Up 0.2%

Shares of Elme Communities stock traded up $0.04 during trading on Friday, hitting $17.07. 345,807 shares of the stock traded hands, compared to its average volume of 743,252. The stock has a market cap of $1.50 billion, a P/E ratio of -113.56 and a beta of 0.98. The company has a fifty day moving average price of $16.26 and a two-hundred day moving average price of $16.28. Elme Communities has a twelve month low of $13.95 and a twelve month high of $18.49. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.51 and a current ratio of 0.51.

Elme Communities (NYSE:ELME - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $62.10 million during the quarter, compared to the consensus estimate of $61.63 million. Elme Communities had a negative net margin of 5.78% and a negative return on equity of 1.33%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. Equities research analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Wednesday, September 17th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, September 17th. Elme Communities's dividend payout ratio (DPR) is -480.00%.

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.