954,747 Shares in Elme Communities $ELME Bought by Nuveen LLC

Key Points

• Nuveen LLC has made a significant investment of $16.61 million in Elme Communities by purchasing 954,747 shares, representing 1.08% ownership in the company.
• Elme Communities announced a quarterly dividend of $0.18 per share, which is scheduled for payment on October 3rd, translating to an annualized yield of 4.3%.
• The company reported earnings of $0.24 per share for the latest quarter, slightly exceeding analyst expectations, alongside a year-over-year revenue increase of 3.3%.

Nuveen LLC acquired a new stake in shares of Elme Communities (NYSE:ELME - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 954,747 shares of the company's stock, valued at approximately $16,613,000. Nuveen LLC owned about 1.08% of Elme Communities at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ELME. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Elme Communities by 5.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 61,118 shares of the company's stock worth $1,063,000 after purchasing an additional 3,177 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Elme Communities by 230.0% in the 1st quarter. Deutsche Bank AG now owns 381,185 shares of the company's stock worth $6,633,000 after purchasing an additional 265,681 shares in the last quarter. Phocas Financial Corp. bought a new stake in shares of Elme Communities in the 1st quarter worth $3,269,000. PNC Financial Services Group Inc. increased its holdings in shares of Elme Communities by 12.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company's stock worth $177,000 after purchasing an additional 1,164 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Elme Communities in the 1st quarter worth $1,125,000. Hedge funds and other institutional investors own 87.88% of the company's stock.

Elme Communities Stock Down 0.1%

Shares of Elme Communities stock traded down $0.02 on Tuesday, reaching $16.99. The company's stock had a trading volume of 1,355,506 shares, compared to its average volume of 1,497,548. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -113.23 and a beta of 0.98. The firm's fifty day simple moving average is $16.21 and its two-hundred day simple moving average is $16.26. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.49. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.67.

Elme Communities (NYSE:ELME - Get Free Report) last posted its earnings results 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 analyst estimates of $61.63 million. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. Equities analysts anticipate that Elme Communities will post 0.94 earnings per share for the current 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. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $0.72 annualized dividend and a dividend yield of 4.2%. Elme Communities's 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.