Connor Clark & Lunn Investment Management Ltd. Sells 28,917 Shares of 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. reduced its stake in shares of Elme Communities (NYSE:ELME - Free Report) by 54.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,370 shares of the company's stock after selling 28,917 shares during the quarter. 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 made changes to their positions in the stock. Argosy Lionbridge Management LLC acquired a new stake in shares of Elme Communities during the fourth quarter worth approximately $25,275,000. Northern Trust Corp boosted its holdings in shares of Elme Communities by 54.9% during the fourth quarter. Northern Trust Corp now owns 1,510,239 shares of the company's stock worth $23,061,000 after purchasing an additional 535,440 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of 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 purchasing an additional 228,419 shares during the period. Invesco Ltd. boosted its holdings in shares of Elme Communities by 3.8% during the fourth quarter. Invesco Ltd. now owns 656,910 shares of the company's stock worth $10,031,000 after purchasing an additional 23,829 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of 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 purchasing an additional 11,581 shares during the period. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Stock Up 0.2%

ELME traded up $0.0350 during midday trading on Monday, hitting $16.9850. 978,301 shares of the company's stock traded hands, compared to its average volume of 1,474,761. The company has a market cap of $1.50 billion, a PE ratio of -113.23 and a beta of 0.98. The stock's fifty day simple moving average is $16.19 and its 200-day simple moving average is $16.25. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.51 and a quick ratio of 0.51. Elme Communities has a one year low of $13.95 and a one year high of $18.49.

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

Elme Communities Dividend Announcement

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