Phocas Financial Corp. purchased a new stake in shares of Elme Communities (NYSE:ELME - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 187,874 shares of the company's stock, valued at approximately $3,269,000. Phocas Financial Corp. owned about 0.21% of Elme Communities as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Argosy Lionbridge Management LLC purchased a new stake in shares of Elme Communities in the fourth quarter valued at approximately $25,275,000. Northern Trust Corp grew its stake in shares of Elme Communities by 54.9% in the fourth quarter. Northern Trust Corp now owns 1,510,239 shares of the company's stock worth $23,061,000 after acquiring an additional 535,440 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Elme Communities by 38.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,461,007 shares of the company's stock valued at $22,310,000 after purchasing an additional 407,607 shares during the period. Balyasny Asset Management L.P. grew its stake in Elme Communities by 34.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 899,141 shares of the company's stock worth $13,730,000 after purchasing an additional 228,419 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Elme Communities by 97.0% during the fourth quarter. JPMorgan Chase & Co. now owns 814,233 shares of the company's stock worth $12,433,000 after buying an additional 400,834 shares during the period. 87.88% of the stock is currently owned by institutional investors and hedge funds.
Elme Communities Stock Up 0.8%
Elme Communities stock traded up $0.14 during midday trading on Thursday, reaching $16.39. The company's stock had a trading volume of 452,602 shares, compared to its average volume of 702,001. The business has a 50-day simple moving average of $16.08 and a 200-day simple moving average of $16.10. The company has a market cap of $1.44 billion, a P/E ratio of -109.15 and a beta of 0.98. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.49. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.66.
Elme Communities (NYSE:ELME - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Elme Communities had a negative net margin of 5.78% and a negative return on equity of 1.32%. The firm had revenue of $62.10 million during the quarter, compared to analysts' expectations of $61.63 million. During the same quarter in the prior year, the business earned $0.23 EPS. Elme Communities's quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts expect that Elme Communities will post 0.94 earnings per share for the current fiscal year.
Elme Communities Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Wednesday, September 17th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 17th. Elme Communities's dividend payout ratio is -480.00%.
About Elme Communities
(
Free Report)
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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