Martingale Asset Management L P Has $1.65 Million Stock Position in Elme Communities (NYSE:ELME)

Martingale Asset Management L P raised its holdings in Elme Communities (NYSE:ELME - Free Report) by 23.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,792 shares of the company's stock after purchasing an additional 20,521 shares during the period. Martingale Asset Management L P owned approximately 0.12% of Elme Communities worth $1,646,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ELME. Metis Global Partners LLC acquired a new stake in shares of Elme Communities during the 4th quarter worth approximately $154,000. Meridian Wealth Management LLC acquired a new stake in shares of Elme Communities in the 4th quarter valued at $171,000. Proficio Capital Partners LLC acquired a new position in shares of Elme Communities during the 4th quarter worth $180,000. M&T Bank Corp lifted its position in shares of Elme Communities by 10.1% during the 4th quarter. M&T Bank Corp now owns 12,691 shares of the company's stock worth $194,000 after buying an additional 1,166 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Elme Communities during the 4th quarter worth $197,000. 87.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ELME. Wells Fargo & Company raised their target price 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. Truist Financial raised Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th.

Elme Communities Trading Up 1.2 %

NYSE ELME traded up $0.18 on Thursday, hitting $15.44. The company's stock had a trading volume of 107,529 shares, compared to its average volume of 582,111. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65. Elme Communities has a 1-year low of $13.95 and a 1-year high of $18.49. The firm has a market cap of $1.36 billion, a PE ratio of -110.01 and a beta of 0.84. The company's 50-day moving average is $16.60 and its 200 day moving average is $16.26.

Elme Communities (NYSE:ELME - Get Free Report) last released 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%. As a group, analysts predict that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 19th. This represents a $0.72 annualized dividend and a yield of 4.66%. Elme Communities's payout ratio is -514.29%.

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.