Elme Communities (NYSE:ELME) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in Elme Communities (NYSE:ELME - Free Report) by 79.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,262 shares of the company's stock after selling 256,234 shares during the quarter. Millennium Management LLC owned about 0.08% of Elme Communities worth $1,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC lifted its stake in 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 acquiring an additional 2,511 shares during the period. Metis Global Partners LLC acquired a new stake in Elme Communities in the fourth quarter valued at approximately $154,000. NewEdge Advisors LLC grew its stake in Elme Communities by 6,041.7% in the 4th quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock valued at $164,000 after acquiring an additional 10,573 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of Elme Communities in the fourth quarter valued at about $171,000. Finally, Proficio Capital Partners LLC purchased a new stake in Elme Communities during the 4th quarter worth approximately $180,000. Hedge funds and other institutional investors own 87.88% of the company's stock.

Analyst Ratings Changes

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

Elme Communities Trading Up 0.5%

Elme Communities stock traded up $0.08 during midday trading on Friday, hitting $16.18. 261,403 shares of the stock were exchanged, compared to its average volume of 581,094. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -115.54 and a beta of 0.98. The stock's 50-day simple moving average is $15.74 and its 200 day simple moving average is $15.96. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.49.

Elme Communities (NYSE:ELME - Get Free Report) last announced its quarterly 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 business had revenue of $61.49 million for the quarter, compared to analyst estimates of $61.31 million. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. The company's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. On average, equities analysts anticipate that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Tuesday, June 17th. Elme Communities's dividend payout ratio 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.