Charles Schwab Investment Management Inc. Decreases Position in Elme Communities $ELME

Key Points

• Charles Schwab Investment Management Inc. sold 28,234 shares of Elme Communities, reducing its stake by 1.6%, and now owns 1.93% of the company's shares valued at $29.6 million.
• Elme Communities recently reported a quarterly earnings per share (EPS) of $0.24, beating estimates, with revenues of $62.1 million which is a 3.3% increase from the previous year.
• The company announced a quarterly dividend of $0.18, resulting in an annualized dividend yield of 4.3%, although it carries a negative payout ratio of -480.00%.

Charles Schwab Investment Management Inc. reduced its stake in Elme Communities (NYSE:ELME - Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,701,993 shares of the company's stock after selling 28,234 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.93% of Elme Communities worth $29,615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Phocas Financial Corp. purchased a new position in shares of Elme Communities in the 1st quarter valued at approximately $3,269,000. PNC Financial Services Group Inc. grew its stake in shares of Elme Communities by 12.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company's stock valued at $177,000 after purchasing an additional 1,164 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Elme Communities in the 1st quarter valued at approximately $1,125,000. Allianz Asset Management GmbH acquired a new stake in shares of Elme Communities in the 1st quarter valued at approximately $924,000. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of Elme Communities by 36.8% in the 1st quarter. Verdence Capital Advisors LLC now owns 22,124 shares of the company's stock valued at $385,000 after buying an additional 5,947 shares during the period. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Price Performance

Shares of ELME traded up $0.0350 during mid-day trading on Monday, hitting $16.9850. The company's stock had a trading volume of 978,301 shares, compared to its average volume of 1,474,761. 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 firm has a 50-day simple moving average of $16.19 and a 200 day simple moving average of $16.25. The firm has a market capitalization of $1.50 billion, a P/E ratio of -113.23 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 posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The business 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 company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. Analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

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

Elme Communities 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.