Exchange Traded Concepts LLC Makes New $1.83 Million Investment in Elme Communities (NYSE:ELME)

Exchange Traded Concepts LLC acquired a new position in Elme Communities (NYSE:ELME - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 105,119 shares of the company's stock, valued at approximately $1,829,000. Exchange Traded Concepts LLC owned 0.12% of Elme Communities as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELME. Sterling Capital Management LLC lifted its stake in shares of Elme Communities by 817.9% in 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 bought a new position in Elme Communities during the 4th quarter valued at approximately $154,000. NewEdge Advisors LLC increased its position in Elme Communities by 6,041.7% during the 4th quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock valued at $164,000 after buying an additional 10,573 shares in the last quarter. Meridian Wealth Management LLC bought a new position in Elme Communities during the 4th quarter valued at approximately $171,000. Finally, Proficio Capital Partners LLC bought a new position in Elme Communities during the 4th quarter valued at approximately $180,000. Hedge funds and other institutional investors own 87.88% of the company's stock.

Analyst Upgrades and Downgrades

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 research report on Thursday, February 20th.

Elme Communities Stock Down 1.7%

Elme Communities stock opened at $15.97 on Wednesday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -106.45 and a beta of 0.98. The stock has a fifty day simple moving average of $15.83 and a two-hundred day simple moving average of $15.95. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.49. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66.

Elme Communities (NYSE:ELME - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $61.49 million during the quarter, compared to analyst estimates of $61.31 million. Elme Communities had a negative return on equity of 1.30% and a negative net margin of 5.79%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. Equities analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The company also recently declared 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 of this dividend is Tuesday, June 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.51%. Elme Communities's dividend payout ratio (DPR) 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.

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