AlphaQuest LLC Buys 17,722 Shares of Elme Communities $ELME

Key Points

• AlphaQuest LLC increased its holdings in Elme Communities by 31.1%, now owning 74,652 shares valued at approximately $1,299,000.
• Elme Communities recently announced a quarterly dividend of $0.18 per share, indicating a 4.2% dividend yield for investors of record as of September 17th.
• In the last earnings report, Elme Communities posted $0.24 EPS, exceeding expectations, with a revenue of $62.10 million—a 3.3% increase year-over-year.

AlphaQuest LLC increased its position in shares of Elme Communities (NYSE:ELME - Free Report) by 31.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,652 shares of the company's stock after acquiring an additional 17,722 shares during the period. AlphaQuest LLC owned approximately 0.08% of Elme Communities worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in Elme Communities during the 1st quarter worth approximately $81,000. NewEdge Advisors LLC grew its stake in Elme Communities by 6,041.7% in the 4th 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. grew its stake in Elme Communities by 12.9% in the 1st 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. Tudor Investment Corp ET AL purchased a new position in Elme Communities in the 4th quarter worth approximately $205,000. Finally, Yoffe Investment Management LLC purchased a new position in Elme Communities in the 4th quarter worth approximately $331,000. Institutional investors own 87.88% of the company's stock.

Elme Communities Price Performance

ELME stock traded down $0.07 during midday trading on Thursday, reaching $17.05. The company had a trading volume of 516,856 shares, compared to its average volume of 744,792. 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 1 year low of $13.95 and a 1 year high of $18.49. The company has a market capitalization of $1.50 billion, a P/E ratio of -113.63 and a beta of 0.98. The firm has a 50-day moving average price of $16.24 and a 200-day moving average price of $16.27.

Elme Communities (NYSE:ELME - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 company had revenue of $62.10 million during the quarter, compared to analysts' expectations of $61.63 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm's revenue was up 3.3% on a year-over-year basis. On average, research analysts anticipate that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Wednesday, September 17th will be paid 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 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.