Connor Clark & Lunn Investment Management Ltd. Has $424,000 Stake in Elme Communities $ELME

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly reduced its stake in Elme Communities by 54.3%, selling 28,917 shares and leaving it with 24,370 shares valued at approximately $424,000.
• Elme Communities reported $0.24 earnings per share for the last quarter, exceeding analysts' estimates and showcasing a 3.3% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.18 per share, resulting in an annualized yield of 4.3% for shareholders of record on September 17th.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Elme Communities (NYSE:ELME - Free Report) by 54.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,370 shares of the company's stock after selling 28,917 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Elme Communities were worth $424,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in ELME. PNC Financial Services Group Inc. increased its holdings 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 buying an additional 1,164 shares during the last quarter. SG Americas Securities LLC lifted its stake in Elme Communities by 5.3% in the first quarter. SG Americas Securities LLC now owns 23,573 shares of the company's stock valued at $410,000 after acquiring an additional 1,193 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Elme Communities by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,043 shares of the company's stock valued at $764,000 after acquiring an additional 1,710 shares during the period. Sterling Capital Management LLC grew its position in shares of Elme Communities by 817.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock valued at $43,000 after acquiring an additional 2,511 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Elme Communities by 5.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 61,118 shares of the company's stock worth $1,063,000 after purchasing an additional 3,177 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company's stock.

Elme Communities Stock Performance

Shares of ELME 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 12 month low of $13.95 and a 12 month high of $18.49. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.84 and a beta of 0.98. The firm's 50-day moving average is $16.18 and its two-hundred day moving average is $16.24. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.67.

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 for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $62.10 million for the quarter, compared to the consensus estimate of $61.63 million. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The business'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. On average, research analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

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