Two Sigma Advisers LP Grows Stock Holdings in Elme Communities (NYSE:ELME)

Two Sigma Advisers LP grew its holdings in shares of Elme Communities (NYSE:ELME - Free Report) by 60.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 404,700 shares of the company's stock after acquiring an additional 152,100 shares during the period. Two Sigma Advisers LP owned 0.46% of Elme Communities worth $6,180,000 as of its most recent SEC filing.

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

Elme Communities Price Performance

NYSE:ELME traded down $0.03 during mid-day trading on Friday, hitting $15.98. 371,188 shares of the stock traded hands, compared to its average volume of 579,279. Elme Communities has a 12-month low of $13.95 and a 12-month high of $18.49. 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 market cap of $1.41 billion, a PE ratio of -114.29 and a beta of 0.96. The business's 50-day moving average price is $15.88 and its 200 day moving average price is $15.98.

Elme Communities (NYSE:ELME - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $61.49 million during the quarter, compared to analysts' expectations of $61.31 million. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. The firm's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. On average, analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.51%. The ex-dividend date is Tuesday, June 17th. Elme Communities's dividend payout ratio (DPR) is currently -480.00%.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th.

Elme Communities 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.