Invesco Ltd. Has $10.03 Million Stock Position in Elme Communities (NYSE:ELME)

Invesco Ltd. increased its holdings in shares of Elme Communities (NYSE:ELME - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 656,910 shares of the company's stock after acquiring an additional 23,829 shares during the period. Invesco Ltd. owned about 0.75% of Elme Communities worth $10,031,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Bank of Montreal Can grew its position in Elme Communities by 21.2% during the 4th quarter. Bank of Montreal Can now owns 126,682 shares of the company's stock worth $1,934,000 after acquiring an additional 22,150 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Elme Communities by 22.3% in the 4th 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. Resona Asset Management Co. Ltd. bought a new stake in shares of Elme Communities during the fourth quarter worth $516,000. Centersquare Investment Management LLC lifted its stake in shares of Elme Communities by 105.6% during 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, Yoffe Investment Management LLC bought a new position in Elme Communities in the fourth quarter valued at about $422,000. 87.88% of the stock is currently owned by institutional investors.

Elme Communities Trading Up 0.8 %

NYSE:ELME traded up $0.12 on Monday, hitting $15.65. 638,540 shares of the stock were exchanged, compared to its average volume of 581,167. 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 $1.38 billion, a price-to-earnings ratio of -111.79 and a beta of 0.84. The company's 50-day moving average price is $16.47 and its 200 day moving average price is $16.15. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.49.

Elme Communities (NYSE:ELME - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. On average, equities research analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.60%. Elme Communities's dividend payout ratio (DPR) is presently -514.29%.

Analysts Set New Price Targets

Several analysts have weighed in on ELME shares. Truist Financial raised Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Wells Fargo & Company boosted their price objective on Elme Communities from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th.

About Elme Communities

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.