Graham Capital Management L.P. Decreases Stock Holdings in Elme Communities (NYSE:ELME)

Graham Capital Management L.P. trimmed its stake in Elme Communities (NYSE:ELME - Free Report) by 51.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,522 shares of the company's stock after selling 21,614 shares during the period. Graham Capital Management L.P.'s holdings in Elme Communities were worth $313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sterling Capital Management LLC raised its position in shares of 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 buying an additional 2,511 shares in the last quarter. Metis Global Partners LLC bought a new position in Elme Communities in the fourth quarter valued at $154,000. NewEdge Advisors LLC raised its position in Elme Communities by 6,041.7% during the fourth quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock valued at $164,000 after purchasing an additional 10,573 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in Elme Communities during the fourth quarter worth about $171,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Elme Communities in the 4th quarter worth about $180,000. 87.88% of the stock is owned by hedge funds and other institutional investors.

Elme Communities Trading Down 1.6%

Shares of Elme Communities stock traded down $0.26 during trading on Wednesday, reaching $15.83. The company's stock had a trading volume of 454,276 shares, compared to its average volume of 576,863. 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 52-week low of $13.95 and a 52-week high of $18.49. The firm's 50-day moving average is $16.07 and its two-hundred day moving average is $16.04. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -113.04 and a beta of 0.96.

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, beating 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 during the quarter, compared to analyst estimates of $61.31 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Tuesday, June 17th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.55%. The ex-dividend date is Tuesday, June 17th. Elme Communities's dividend payout ratio is presently -480.00%.

Analysts Set New Price Targets

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

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.