Exchange Traded Concepts LLC Purchases Shares of 105,119 Elme Communities (NYSE:ELME)

Exchange Traded Concepts LLC purchased a new stake in shares of Elme Communities (NYSE:ELME - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 105,119 shares of the company's stock, valued at approximately $1,829,000. Exchange Traded Concepts LLC owned 0.12% of Elme Communities at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELME. Sterling Capital Management LLC raised its position in Elme Communities by 817.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock worth $43,000 after acquiring an additional 2,511 shares during the period. Metis Global Partners LLC bought a new position in Elme Communities in the 4th quarter worth $154,000. NewEdge Advisors LLC raised its holdings in Elme Communities by 6,041.7% in the 4th quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock worth $164,000 after purchasing an additional 10,573 shares during the period. Meridian Wealth Management LLC bought a new position in Elme Communities in the 4th quarter worth $171,000. Finally, Proficio Capital Partners LLC bought a new position in Elme Communities in the 4th quarter worth $180,000. 87.88% of the stock is owned by institutional investors.

Elme Communities Stock Performance

Shares of NYSE ELME traded down $0.12 during trading on Friday, hitting $15.78. The company had a trading volume of 1,122,151 shares, compared to its average volume of 577,065. The stock has a 50 day simple moving average of $15.88 and a 200 day simple moving average of $15.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.68. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.49. The firm has a market capitalization of $1.39 billion, a P/E ratio of -105.21 and a beta of 0.98.

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, topping analysts' consensus estimates of $0.23 by $0.01. Elme Communities had a negative net margin of 5.79% and a negative return on equity of 1.30%. The company had revenue of $61.49 million for the quarter, compared to analysts' expectations of $61.31 million. During the same quarter last year, the business earned $0.23 EPS. The firm's revenue was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.72 annualized dividend and a dividend yield of 4.56%. Elme Communities's payout ratio is -480.00%.

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.