Elme Communities (NYSE:ELME) Position Trimmed by Deutsche Bank AG

Deutsche Bank AG lowered its holdings in Elme Communities (NYSE:ELME - Free Report) by 48.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,504 shares of the company's stock after selling 107,485 shares during the period. Deutsche Bank AG owned about 0.13% of Elme Communities worth $1,764,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in Elme Communities by 817.9% during the 4th 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 during the period. Metis Global Partners LLC acquired a new stake in Elme Communities in the fourth quarter worth $154,000. NewEdge Advisors LLC increased its position in Elme Communities by 6,041.7% in 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 during the period. Meridian Wealth Management LLC bought a new stake in Elme Communities in the fourth quarter valued at $171,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Elme Communities during the fourth quarter valued at $180,000. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Stock Performance

ELME stock traded up $0.07 on Thursday, reaching $16.01. The company's stock had a trading volume of 526,343 shares, compared to its average volume of 580,059. 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 0.65, a current ratio of 0.58 and a quick ratio of 0.55. The company has a market capitalization of $1.41 billion, a P/E ratio of -114.36 and a beta of 0.96. The firm has a fifty day moving average of $15.88 and a two-hundred day moving average of $15.98.

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, topping the consensus estimate of $0.23 by $0.01. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. The company had revenue of $61.49 million during the quarter, compared to analysts' expectations of $61.31 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The business 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 dividend yield of 4.50%. Elme Communities's dividend payout ratio (DPR) is -480.00%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company increased their price objective 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 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.