Charles Schwab Investment Management Inc. Sells 28,234 Shares of 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. lessened its holdings in shares of Elme Communities (NYSE:ELME - Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,701,993 shares of the company's stock after selling 28,234 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.93% of Elme Communities worth $29,615,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in 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 purchasing an additional 2,511 shares during the period. Hughes Financial Services LLC purchased a new stake in shares of Elme Communities in the first quarter worth about $81,000. NewEdge Advisors LLC lifted its holdings in shares of Elme Communities by 6,041.7% in the fourth quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock worth $164,000 after buying an additional 10,573 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Elme Communities by 12.9% in the first quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company's stock worth $177,000 after buying an additional 1,164 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Elme Communities in the fourth quarter worth about $205,000. Institutional investors own 87.88% of the company's stock.

Elme Communities Price Performance

Shares of Elme Communities stock traded up $0.1850 on Friday, reaching $16.9550. The stock had a trading volume of 1,928,185 shares, compared to its average volume of 1,404,760. Elme Communities has a 1 year low of $13.95 and a 1 year high of $18.49. The company has a market cap of $1.49 billion, a P/E ratio of 17.84 and a beta of 0.98. 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 business's 50 day moving average is $16.18 and its two-hundred day moving average is $16.24.

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

Elme Communities Announces Dividend

The company 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 $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 17th. Elme Communities's dividend payout ratio 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.