Nuveen LLC Invests $16.61 Million in Elme Communities $ELME

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

A number of other hedge funds also recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in Elme Communities by 22.3% in the fourth quarter. Wells Fargo & Company MN now owns 72,376 shares of the company's stock valued at $1,105,000 after buying an additional 13,173 shares during the period. Invesco Ltd. lifted its holdings in Elme Communities by 3.8% in the fourth quarter. Invesco Ltd. now owns 656,910 shares of the company's stock valued at $10,031,000 after buying an additional 23,829 shares during the period. Sterling Capital Management LLC lifted its holdings in Elme Communities by 817.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock valued at $43,000 after buying an additional 2,511 shares during the period. Barclays PLC lifted its holdings in Elme Communities by 5.0% in the fourth quarter. Barclays PLC now owns 186,366 shares of the company's stock valued at $2,846,000 after buying an additional 8,928 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Elme Communities by 6,041.7% in the fourth quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock valued at $164,000 after buying an additional 10,573 shares during the period. Institutional investors and hedge funds own 87.88% of the company's stock.

Elme Communities Price Performance

ELME stock opened at $16.8650 on Thursday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -112.43 and a beta of 0.98. 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 has a 12-month low of $13.95 and a 12-month high of $18.49. The company's fifty day simple moving average is $16.16 and its 200 day simple moving average is $16.21.

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

Elme Communities Announces Dividend

The company also recently announced 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 is Wednesday, September 17th. This represents a $0.72 annualized dividend and a yield of 4.3%. Elme Communities's payout ratio is presently -480.00%.

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.

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