Elme Communities (NYSE:ELME) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Elme Communities (NYSE:ELME - Free Report) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 597,427 shares of the company's stock after selling 56,976 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.68% of Elme Communities worth $9,123,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ELME. Argosy Lionbridge Management LLC bought a new position in Elme Communities during the 4th quarter valued at $25,275,000. Northern Trust Corp lifted its position in shares of Elme Communities by 54.9% in the 4th quarter. Northern Trust Corp now owns 1,510,239 shares of the company's stock worth $23,061,000 after buying an additional 535,440 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Elme Communities by 38.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,461,007 shares of the company's stock worth $22,310,000 after buying an additional 407,607 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Elme Communities by 97.0% in the 4th quarter. JPMorgan Chase & Co. now owns 814,233 shares of the company's stock worth $12,433,000 after buying an additional 400,834 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position 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 worth $13,730,000 after buying an additional 228,419 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Elme Communities Stock Performance

Shares of Elme Communities stock traded up $0.09 during trading hours on Wednesday, reaching $16.03. The company's stock had a trading volume of 446,580 shares, compared to its average volume of 580,185. 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 has a one year low of $13.95 and a one year high of $18.49. The company's 50 day simple moving average is $15.78 and its 200 day simple moving average is $15.96. The stock has a market cap of $1.41 billion, a P/E ratio of -114.50 and a beta of 0.96.

Elme Communities (NYSE:ELME - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $61.49 million for 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%. Elme Communities's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. As a group, analysts expect 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. Stockholders of record on Tuesday, June 17th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.72 annualized dividend and a dividend yield of 4.49%. Elme Communities's dividend payout ratio is currently -480.00%.

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.