Elme Communities $ELME Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Elme Communities by 2.7%, acquiring an additional 40,124 shares, bringing its total ownership to 1,550,363 shares valued at approximately $26.98 million.
• Elme Communities reported earnings of $0.24 per share for the last quarter, exceeding analyst estimates and showing a 3.3% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.18 per share, with a yield of 4.2% and a dividend payout ratio currently at -480.00%.

Northern Trust Corp lifted its holdings in shares of Elme Communities (NYSE:ELME - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,550,363 shares of the company's stock after purchasing an additional 40,124 shares during the period. Northern Trust Corp owned about 1.76% of Elme Communities worth $26,976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Algert Global LLC grew its holdings in shares of Elme Communities by 118.8% during the first quarter. Algert Global LLC now owns 129,860 shares of the company's stock worth $2,260,000 after buying an additional 70,500 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Elme Communities by 6.3% during the first quarter. American Century Companies Inc. now owns 37,420 shares of the company's stock worth $651,000 after buying an additional 2,218 shares in the last quarter. Aberdeen Group plc grew its holdings in shares of Elme Communities by 3.6% during the first quarter. Aberdeen Group plc now owns 23,774 shares of the company's stock worth $414,000 after buying an additional 828 shares in the last quarter. Fox Run Management L.L.C. grew its holdings in shares of Elme Communities by 80.0% during the first quarter. Fox Run Management L.L.C. now owns 42,984 shares of the company's stock worth $748,000 after buying an additional 19,103 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Elme Communities by 1,301.1% during the first quarter. Russell Investments Group Ltd. now owns 225,520 shares of the company's stock worth $3,924,000 after buying an additional 209,424 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Trading Down 0.3%

Shares of NYSE ELME traded down $0.05 during midday trading on Thursday, reaching $17.02. 295,847 shares of the stock were exchanged, compared to its average volume of 743,991. The company has a market capitalization of $1.50 billion, a P/E ratio of -113.56 and a beta of 1.02. Elme Communities has a 52-week low of $13.95 and a 52-week high of $18.49. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.67. The stock has a 50 day moving average price of $16.36 and a 200-day moving average price of $16.31.

Elme Communities (NYSE:ELME - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $62.10 million during the quarter, compared to the consensus estimate of $61.63 million. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. Equities research analysts expect that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Wednesday, September 17th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 17th. Elme Communities's dividend payout ratio (DPR) is -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.