Cubist Systematic Strategies LLC Acquires 43,843 Shares of Elme Communities $ELME

Key Points

• Cubist Systematic Strategies LLC has increased its holdings in Elme Communities (NYSE: ELME) by 68.3%, now owning 107,990 shares worth approximately $1.88 million.
• Elme Communities announced a quarterly dividend of $0.18 per share, reflecting a 4.2% annual yield and a payout ratio of -480.00%.
• The company's recent earnings report showed a 3.3% increase in revenue year-over-year, with an EPS of $0.24, slightly exceeding analysts' expectations.

Cubist Systematic Strategies LLC lifted its holdings in Elme Communities (NYSE:ELME - Free Report) by 68.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 107,990 shares of the company's stock after purchasing an additional 43,843 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.12% of Elme Communities worth $1,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Graham Capital Management L.P. grew its position in shares of Elme Communities by 94.7% in the 1st quarter. Graham Capital Management L.P. now owns 39,951 shares of the company's stock valued at $695,000 after purchasing an additional 19,429 shares during the period. Vident Advisory LLC lifted its stake in Elme Communities by 11.8% in the 1st quarter. Vident Advisory LLC now owns 36,736 shares of the company's stock valued at $639,000 after acquiring an additional 3,879 shares in the last quarter. State of Wyoming bought a new stake in Elme Communities in the 1st quarter valued at approximately $66,000. Ieq Capital LLC lifted its stake in Elme Communities by 29.1% in the 1st quarter. Ieq Capital LLC now owns 23,886 shares of the company's stock valued at $416,000 after acquiring an additional 5,383 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its stake in Elme Communities by 119.3% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,459,062 shares of the company's stock valued at $42,788,000 after acquiring an additional 1,337,974 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Truist Financial restated a "hold" rating on shares of Elme Communities in a research note on Thursday. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Elme Communities has a consensus rating of "Hold" and a consensus price target of $18.50.

Elme Communities Stock Up 0.3%

Shares of Elme Communities stock traded up $0.05 on Friday, reaching $17.13. 1,055,009 shares of the company were exchanged, compared to its average volume of 873,611. Elme Communities has a one year low of $13.95 and a one year high of $18.49. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -114.19 and a beta of 1.02. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average of $16.51 and a 200 day moving average of $16.31.

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, topping analysts' consensus estimates 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 company had revenue of $62.10 million for the quarter, compared to analysts' expectations of $61.63 million. During the same quarter in the prior year, the business posted $0.23 EPS. The business's revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The business 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 dividend of $0.18 per share. The ex-dividend date 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 currently -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.