Thornburg Investment Management Inc. Sells 50,000 Shares of Elme Communities (NYSE:ELME)

Thornburg Investment Management Inc. lowered its stake in Elme Communities (NYSE:ELME - Free Report) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,405,668 shares of the company's stock after selling 50,000 shares during the period. Thornburg Investment Management Inc. owned about 2.73% of Elme Communities worth $36,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Hunter Perkins Capital Management LLC raised its stake in Elme Communities by 3.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company's stock worth $354,000 after acquiring an additional 875 shares in the last quarter. M&T Bank Corp lifted its position in Elme Communities by 10.1% during the 4th quarter. M&T Bank Corp now owns 12,691 shares of the company's stock worth $194,000 after acquiring an additional 1,166 shares during the period. American Century Companies Inc. grew its stake in shares of Elme Communities by 3.5% in the 4th quarter. American Century Companies Inc. now owns 35,202 shares of the company's stock valued at $538,000 after purchasing an additional 1,193 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Elme Communities by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 16,669 shares of the company's stock worth $255,000 after purchasing an additional 1,544 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Elme Communities by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,043 shares of the company's stock valued at $764,000 after buying an additional 1,710 shares during the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Elme Communities Price Performance

NYSE:ELME traded down $0.08 during trading hours on Friday, hitting $15.63. The company's stock had a trading volume of 101,197 shares, compared to its average volume of 575,906. The company has a market capitalization of $1.38 billion, a PE ratio of -111.39 and a beta of 0.96. Elme Communities has a 52-week low of $13.95 and a 52-week high of $18.49. The business's 50-day moving average is $16.01 and its two-hundred day moving average is $16.03. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58.

Elme Communities (NYSE:ELME - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $61.49 million during the quarter, compared to analysts' expectations of $61.31 million. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. As a group, research analysts anticipate that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Tuesday, June 17th will be paid 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 4.61%. Elme Communities's dividend payout ratio (DPR) 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.