KLP Kapitalforvaltning AS Buys Shares of 16,400 Elme Communities (NYSE:ELME)

KLP Kapitalforvaltning AS purchased a new position in shares of Elme Communities (NYSE:ELME - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 16,400 shares of the company's stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Elme Communities by 466.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 654,403 shares of the company's stock valued at $11,511,000 after buying an additional 538,857 shares in the last quarter. Barclays PLC increased its holdings in shares of Elme Communities by 64.9% during the third quarter. Barclays PLC now owns 177,438 shares of the company's stock valued at $3,121,000 after acquiring an additional 69,835 shares in the last quarter. LDR Capital Management LLC raised its position in shares of Elme Communities by 259.7% during the fourth quarter. LDR Capital Management LLC now owns 82,883 shares of the company's stock worth $1,266,000 after purchasing an additional 59,840 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Elme Communities by 8.2% in the 4th quarter. Bank of New York Mellon Corp now owns 760,381 shares of the company's stock worth $11,611,000 after purchasing an additional 57,563 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Elme Communities by 50.8% in the 3rd quarter. Jane Street Group LLC now owns 169,361 shares of the company's stock valued at $2,979,000 after purchasing an additional 57,038 shares during the period. 87.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ELME. Wells Fargo & Company upped their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Truist Financial upgraded shares of Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. downgraded Elme Communities from an "overweight" rating to a "neutral" rating and cut their price target for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th.

Elme Communities Stock Up 1.3 %

ELME traded up $0.19 during mid-day trading on Friday, reaching $15.09. 488,342 shares of the stock were exchanged, compared to its average volume of 586,736. Elme Communities has a 1 year low of $13.95 and a 1 year 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 $1.33 billion, a PE ratio of -107.79 and a beta of 0.84. The company has a 50 day moving average price of $16.62 and a two-hundred day moving average price of $16.29.

Elme Communities (NYSE:ELME - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, topping 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%. As a group, research 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 was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Wednesday, March 19th. Elme Communities's dividend payout ratio is presently -514.29%.

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.