Nebula Research & Development LLC Takes Position in Elme Communities (NYSE:ELME)

Nebula Research & Development LLC acquired a new position in Elme Communities (NYSE:ELME - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 38,484 shares of the company's stock, valued at approximately $588,000.

A number of other large investors have also recently added to or reduced their stakes in ELME. Argosy Lionbridge Management LLC acquired a new position in shares of Elme Communities in the fourth quarter worth $25,275,000. Price T Rowe Associates Inc. MD lifted its holdings in Elme Communities by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 74,379 shares of the company's stock valued at $1,136,000 after purchasing an additional 6,582 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Elme Communities by 12.0% during the fourth quarter. Hsbc Holdings PLC now owns 82,368 shares of the company's stock valued at $1,254,000 after buying an additional 8,810 shares during the period. MetLife Investment Management LLC boosted its position in Elme Communities by 7.8% during the fourth quarter. MetLife Investment Management LLC now owns 56,023 shares of the company's stock worth $855,000 after acquiring an additional 4,072 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Elme Communities by 223.7% in the 4th quarter. First Trust Advisors LP now owns 160,059 shares of the company's stock worth $2,444,000 after acquiring an additional 110,615 shares during the period. 87.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on 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 upgraded Elme Communities from a "hold" rating to a "buy" rating in a report on Friday, January 17th.

Elme Communities Trading Up 1.8 %

ELME stock traded up $0.28 during trading on Friday, reaching $16.19. 1,024,558 shares of the stock traded hands, compared to its average volume of 579,239. The firm has a market capitalization of $1.43 billion, a PE ratio of -115.64 and a beta of 0.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55. The business's 50 day moving average price is $16.36 and its 200-day moving average price is $16.12. 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 posted its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $61.49 million during the quarter, compared to the consensus estimate of $61.31 million. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. The company's revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. As a group, sell-side analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Tuesday, June 17th. Elme Communities's dividend payout ratio is presently -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.