Russell Investments Group Ltd. Buys 209,424 Shares of Elme Communities $ELME

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Elme Communities by 1,301.1% during the first quarter, holding 225,520 shares valued at approximately $3.9 million.
• Elme Communities reported a quarterly EPS of $0.24, surpassing the consensus estimate of $0.23, with a revenue increase of 3.3% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.18, reflecting an annualized dividend yield of 4.2%, despite a negative payout ratio of -480.00%.

Russell Investments Group Ltd. grew its position in Elme Communities (NYSE:ELME - Free Report) by 1,301.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,520 shares of the company's stock after purchasing an additional 209,424 shares during the period. Russell Investments Group Ltd. owned approximately 0.26% of Elme Communities worth $3,924,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in shares of Elme Communities by 817.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock valued at $43,000 after purchasing an additional 2,511 shares in the last quarter. Hughes Financial Services LLC bought a new stake in shares of Elme Communities in the first quarter valued at about $81,000. 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 valued at $177,000 after purchasing an additional 1,164 shares in the last quarter. 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 valued at $164,000 after purchasing an additional 10,573 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in Elme Communities during the fourth quarter worth about $205,000. 87.88% of the stock is currently owned by institutional investors.

Elme Communities Stock Down 0.4%

ELME traded down $0.07 on Thursday, hitting $17.05. 520,468 shares of the company were exchanged, compared to its average volume of 1,520,475. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.49. The company has a market cap of $1.50 billion, a PE ratio of -113.63 and a beta of 0.98. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.51 and a current ratio of 0.51. The stock's fifty day moving average is $16.26 and its 200-day moving average is $16.28.

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

Elme Communities Dividend Announcement

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

About Elme Communities

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.