Two Sigma Investments LP Purchases 25,003 Shares of Elme Communities (NYSE:ELME)

Two Sigma Investments LP increased its holdings in Elme Communities (NYSE:ELME - Free Report) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,154 shares of the company's stock after purchasing an additional 25,003 shares during the quarter. Two Sigma Investments LP owned 0.37% of Elme Communities worth $4,935,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC boosted its holdings in shares of Elme Communities by 817.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock worth $43,000 after purchasing an additional 2,511 shares during the period. Metis Global Partners LLC bought a new position in Elme Communities during the fourth quarter valued at about $154,000. NewEdge Advisors LLC boosted its stake in Elme Communities by 6,041.7% during the fourth 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. Meridian Wealth Management LLC bought a new stake in Elme Communities in the fourth quarter valued at about $171,000. Finally, Proficio Capital Partners LLC acquired a new stake in Elme Communities in the 4th quarter valued at $180,000. 87.88% of the stock is owned by institutional investors.

Elme Communities Stock Performance

Shares of NYSE ELME traded up $0.06 during mid-day trading on Friday, reaching $16.07. 1,192,469 shares of the company were exchanged, compared to its average volume of 582,499. The stock has a market capitalization of $1.42 billion, a P/E ratio of -114.79 and a beta of 0.96. The company's 50-day simple moving average is $15.88 and its 200-day simple moving average is $15.98. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65. Elme Communities has a twelve month low of $13.95 and a twelve month high of $18.49.

Elme Communities (NYSE:ELME - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. 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 net margin of 5.42% and a negative return on equity of 1.18%. The business had revenue of $61.49 million for the quarter, compared to analyst estimates of $61.31 million. During the same quarter last year, the business posted $0.23 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The company also recently declared 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 yield of 4.48%. Elme Communities's dividend payout ratio (DPR) is currently -480.00%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company increased their price objective on Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th.

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.