Cbre Investment Management Listed Real Assets LLC Has $42.79 Million Stock Position in Elme Communities $ELME

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 boosted its position in Elme Communities (NYSE:ELME - Free Report) by 119.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,459,062 shares of the company's stock after purchasing an additional 1,337,974 shares during the period. Cbre Investment Management Listed Real Assets LLC owned about 2.79% of Elme Communities worth $42,788,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Northern Trust Corp lifted its stake in Elme Communities by 2.7% in the 1st quarter. Northern Trust Corp now owns 1,550,363 shares of the company's stock valued at $26,976,000 after purchasing an additional 40,124 shares during the last quarter. Nuveen LLC acquired a new stake in Elme Communities in the 1st quarter valued at about $16,613,000. Balyasny Asset Management L.P. lifted its position in Elme Communities by 34.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 899,141 shares of the company's stock worth $13,730,000 after acquiring an additional 228,419 shares during the last quarter. Principal Financial Group Inc. lifted its position in Elme Communities by 2.7% during the first quarter. Principal Financial Group Inc. now owns 438,383 shares of the company's stock worth $7,628,000 after acquiring an additional 11,581 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Elme Communities by 60.2% during the fourth quarter. Two Sigma Advisers LP now owns 404,700 shares of the company's stock worth $6,180,000 after acquiring an additional 152,100 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Stock Performance

ELME stock traded up $0.16 during mid-day trading on Wednesday, hitting $17.13. 820,354 shares of the company were exchanged, compared to its average volume of 747,445. The business has a 50 day simple moving average of $16.21 and a 200-day simple moving average of $16.26. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $1.51 billion, a PE ratio of -114.16 and a beta of 0.98. Elme Communities has a 1-year low of $13.95 and a 1-year high of $18.49.

Elme Communities (NYSE:ELME - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $61.63 million. Elme Communities had a negative net margin of 5.78% and a negative return on equity of 1.33%. The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. On average, equities analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

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