Elme Communities $ELME Shares Acquired by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its holdings in Elme Communities by 119.3%, acquiring a total of 2,459,062 shares worth approximately $42.8 million.
• Elme Communities reported a quarterly earnings per share (EPS) of $0.24, exceeding analysts' expectations, and noted a revenue of $62.1 million for the quarter.
• The company declared a quarterly dividend of $0.18 per share, which will be paid on October 3rd, reflecting an annualized dividend yield of 4.2%.

Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of Elme Communities (NYSE:ELME - Free Report) by 119.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,459,062 shares of the company's stock after buying an additional 1,337,974 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned approximately 2.79% of Elme Communities worth $42,788,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC grew its position in shares of Elme Communities by 817.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock worth $43,000 after buying an additional 2,511 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in Elme Communities during the first quarter worth approximately $81,000. PNC Financial Services Group Inc. lifted its stake in Elme Communities by 12.9% during the first quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company's stock worth $177,000 after purchasing an additional 1,164 shares during the last quarter. NewEdge Advisors LLC lifted its stake in 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 during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in Elme Communities during the fourth quarter worth approximately $205,000. 87.88% of the stock is owned by institutional investors and hedge funds.

Elme Communities Stock Down 0.5%

ELME stock traded down $0.09 during trading on Thursday, hitting $17.03. 210,782 shares of the company's stock were exchanged, compared to its average volume of 744,134. The business has a 50-day moving average price of $16.24 and a two-hundred day moving average price of $16.27. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -113.49 and a beta of 0.98. Elme Communities has a 52-week low of $13.95 and a 52-week high of $18.49. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.67.

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

Elme Communities Announces Dividend

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