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

Millennium Management LLC trimmed its position in Elme Communities (NYSE:ELME - Free Report) by 79.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,262 shares of the company's stock after selling 256,234 shares during the period. Millennium Management LLC owned approximately 0.08% of Elme Communities worth $1,012,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its holdings in shares of 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 last quarter. Metis Global Partners LLC purchased a new position in Elme Communities during the fourth quarter worth about $154,000. NewEdge Advisors LLC grew its holdings 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 during the period. Meridian Wealth Management LLC bought a new stake in shares of Elme Communities during the 4th quarter valued at $171,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Elme Communities during the fourth quarter worth about $180,000. Institutional investors and hedge funds own 87.88% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased 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 Trading Up 1.7%

Shares of ELME traded up $0.27 during midday trading on Monday, hitting $16.44. The stock had a trading volume of 380,326 shares, compared to its average volume of 580,291. The firm has a market cap of $1.45 billion, a PE ratio of -117.43 and a beta of 0.98. Elme Communities has a 1 year low of $13.95 and a 1 year high of $18.49. The stock's 50 day moving average is $15.74 and its 200 day moving average is $15.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55.

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 5.42% and a negative return on equity of 1.18%. The company had revenue of $61.49 million during the quarter, compared to analysts' expectations of $61.31 million. During the same period last year, the business earned $0.23 EPS. Elme Communities's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts forecast that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

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 $0.18 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.72 annualized dividend and a yield of 4.38%. Elme Communities's dividend payout ratio (DPR) 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.