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

Two Sigma Advisers LP increased its stake in Elme Communities (NYSE:ELME - Free Report) by 60.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 404,700 shares of the company's stock after purchasing an additional 152,100 shares during the quarter. Two Sigma Advisers LP owned 0.46% of Elme Communities worth $6,180,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC lifted its stake in shares of Elme Communities by 817.9% during the 4th 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 in the last quarter. Metis Global Partners LLC purchased a new stake in Elme Communities during the 4th quarter valued at $154,000. NewEdge Advisors LLC lifted its stake in Elme Communities by 6,041.7% in the fourth quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock worth $164,000 after purchasing an additional 10,573 shares during the last quarter. Meridian Wealth Management LLC bought a new position in Elme Communities in the 4th quarter valued at $171,000. Finally, Proficio Capital Partners LLC purchased a new position in Elme Communities in the 4th quarter worth about $180,000. Institutional investors own 87.88% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted their price objective 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 Trading Up 2.3%

Shares of ELME stock traded up $0.37 on Tuesday, hitting $15.97. 597,841 shares of the stock traded hands, compared to its average volume of 579,031. The firm's 50-day moving average price is $15.93 and its two-hundred day moving average price is $15.99. Elme Communities has a twelve month low of $13.95 and a twelve month high of $18.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58. The stock has a market capitalization of $1.41 billion, a PE ratio of -114.04 and a beta of 0.96.

Elme Communities (NYSE:ELME - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $61.49 million for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. As a group, analysts anticipate that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Tuesday, June 17th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.51%. Elme Communities's payout ratio is -480.00%.

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.