Elme Communities $ELME Stake Raised by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its stake in Elme Communities by 94.7% in Q1, holding 39,951 shares valued at $695,000 by the end of the reporting period.
• Elme Communities announced a quarterly dividend of $0.18 per share, with a dividend yield of 4.2%, payable on October 3rd to shareholders of record on September 17th.
• The company's recent earnings report beat expectations, with a 3.3% year-over-year revenue increase and an EPS of $0.24, exceeding analyst estimates by $0.01.

Graham Capital Management L.P. grew its position in Elme Communities (NYSE:ELME - Free Report) by 94.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,951 shares of the company's stock after purchasing an additional 19,429 shares during the period. Graham Capital Management L.P.'s holdings in Elme Communities were worth $695,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. State of Wyoming acquired a new position in shares of Elme Communities during the first quarter worth approximately $66,000. Hughes Financial Services LLC bought a new stake in Elme Communities during the 1st quarter valued at $81,000. PNC Financial Services Group Inc. boosted its position in Elme Communities by 12.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company's stock worth $177,000 after acquiring an additional 1,164 shares during the period. Tudor Investment Corp ET AL acquired a new position in Elme Communities during the 4th quarter worth $205,000. Finally, Yoffe Investment Management LLC bought a new position in shares of Elme Communities in the fourth quarter worth $331,000. Institutional investors and hedge funds own 87.88% of the company's stock.

Elme Communities Stock Performance

Shares of NYSE ELME traded down $0.08 during midday trading on Wednesday, reaching $17.11. 946,074 shares of the company traded hands, compared to its average volume of 879,261. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -114.03 and a beta of 1.02. The stock has a 50-day moving average price of $16.48 and a 200 day moving average price of $16.31. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.49. 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 (NYSE:ELME - Get Free Report) last released its 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 firm had revenue of $62.10 million for the quarter, compared to analysts' expectations of $61.63 million. Elme Communities had a negative net margin of 5.78% and a negative return on equity of 1.33%. Elme Communities's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. Sell-side analysts anticipate that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Wednesday, September 17th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, September 17th. Elme Communities's dividend payout ratio is -480.00%.

Elme Communities Company 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.