Nuveen Asset Management LLC Trims Holdings in Elme Communities (NYSE:ELME)

Nuveen Asset Management LLC cut its holdings in Elme Communities (NYSE:ELME - Free Report) by 30.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 995,646 shares of the company's stock after selling 444,986 shares during the quarter. Nuveen Asset Management LLC owned 1.13% of Elme Communities worth $15,204,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ELME. Versor Investments LP acquired a new stake in shares of Elme Communities in the 4th quarter worth $596,000. Barclays PLC lifted its holdings in Elme Communities by 64.9% during the 3rd quarter. Barclays PLC now owns 177,438 shares of the company's stock worth $3,121,000 after buying an additional 69,835 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Elme Communities by 97.0% during the 4th quarter. JPMorgan Chase & Co. now owns 814,233 shares of the company's stock worth $12,433,000 after purchasing an additional 400,834 shares in the last quarter. Centersquare Investment Management LLC increased its stake in shares of Elme Communities by 105.6% during the fourth quarter. Centersquare Investment Management LLC now owns 109,800 shares of the company's stock worth $1,677,000 after buying an additional 56,400 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Elme Communities by 0.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,143,320 shares of the company's stock valued at $32,321,000 after purchasing an additional 18,965 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Stock Performance

ELME traded down $0.01 on Friday, hitting $16.00. 329,037 shares of the company traded hands, compared to its average volume of 635,369. The stock has a market capitalization of $1.41 billion, a PE ratio of -114.29 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average of $15.88 and a 200-day moving average of $15.98. Elme Communities has a 12-month low of $13.95 and a 12-month high of $18.49.

Elme Communities (NYSE:ELME - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, beating 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 firm had revenue of $61.49 million during the quarter, compared to the consensus estimate of $61.31 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm's revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The business also recently declared 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 of this dividend is Tuesday, June 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.50%. Elme Communities's payout ratio is -480.00%.

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 company an "equal weight" rating in a report on Thursday, February 20th.

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.