GAMMA Investing LLC Has $938,000 Holdings in Elme Communities (NYSE:ELME)

GAMMA Investing LLC boosted its position in Elme Communities (NYSE:ELME - Free Report) by 1,505.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,888 shares of the company's stock after buying an additional 50,531 shares during the quarter. GAMMA Investing LLC owned approximately 0.06% of Elme Communities worth $938,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Argosy Lionbridge Management LLC bought a new stake in Elme Communities during the fourth quarter worth about $25,275,000. Northern Trust Corp increased its position in shares of Elme Communities by 54.9% during the 4th 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 last quarter. Renaissance Technologies LLC increased its position in shares of Elme Communities by 38.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,461,007 shares of the company's stock worth $22,310,000 after purchasing an additional 407,607 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Elme Communities by 97.0% during the 4th quarter. JPMorgan Chase & Co. now owns 814,233 shares of the company's stock worth $12,433,000 after purchasing an additional 400,834 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Elme Communities by 34.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 899,141 shares of the company's stock valued at $13,730,000 after buying an additional 228,419 shares during the last quarter. Institutional investors own 87.88% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their target price on shares of Elme Communities from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th.

Elme Communities Stock Performance

Elme Communities stock traded up $0.02 during mid-day trading on Wednesday, hitting $15.98. 41,108 shares of the company's stock traded hands, compared to its average volume of 575,735. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -106.39 and a beta of 0.98. The firm has a 50 day simple moving average of $15.83 and a two-hundred day simple moving average of $15.95. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.68 and a quick ratio of 0.68.

Elme Communities (NYSE:ELME - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $61.49 million during the quarter, compared to the consensus estimate of $61.31 million. Elme Communities had a negative return on equity of 1.30% and a negative net margin of 5.79%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. On average, research analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.51%. Elme Communities's payout ratio is presently -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.