Elme Communities (NYSE:ELME) Shares Sold by HGI Capital Management LLC

HGI Capital Management LLC trimmed its holdings in shares of Elme Communities (NYSE:ELME - Free Report) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,141,094 shares of the company's stock after selling 84,426 shares during the period. Elme Communities makes up approximately 33.6% of HGI Capital Management LLC's investment portfolio, making the stock its largest holding. HGI Capital Management LLC owned 2.43% of Elme Communities worth $32,695,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELME. Sterling Capital Management LLC raised its position in Elme Communities by 817.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock worth $43,000 after acquiring an additional 2,511 shares in the last quarter. Metis Global Partners LLC acquired a new stake in Elme Communities during the fourth quarter valued at approximately $154,000. NewEdge Advisors LLC boosted its holdings in Elme Communities by 6,041.7% during the fourth quarter. NewEdge Advisors LLC now owns 10,748 shares of the company's stock worth $164,000 after buying an additional 10,573 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in Elme Communities in the fourth quarter worth approximately $171,000. Finally, M&T Bank Corp increased its holdings in shares of Elme Communities by 9.5% in the third quarter. M&T Bank Corp now owns 11,525 shares of the company's stock valued at $203,000 after buying an additional 1,000 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors.

Elme Communities Stock Up 0.1 %

NYSE:ELME traded up $0.02 on Wednesday, hitting $15.47. 300,212 shares of the company's stock traded hands, compared to its average volume of 578,546. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.36 billion, a PE ratio of -110.50 and a beta of 0.84. The firm has a 50-day moving average price of $16.59 and a 200-day moving average price of $16.19. Elme Communities has a 1 year low of $13.95 and a 1 year high of $18.49.

Elme Communities (NYSE:ELME - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. Equities analysts anticipate 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 was paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.65%. Elme Communities's payout ratio is -514.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ELME shares. Truist Financial raised Elme Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Wells Fargo & Company upped their price target on shares of Elme Communities from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th.

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.