Nebula Research & Development LLC Makes New $588,000 Investment in Elme Communities (NYSE:ELME)

Nebula Research & Development LLC acquired a new stake in shares of Elme Communities (NYSE:ELME - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 38,484 shares of the company's stock, valued at approximately $588,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ELME. Sterling Capital Management LLC raised its holdings in Elme Communities by 817.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,818 shares of the company's stock valued at $43,000 after buying an additional 2,511 shares during the last quarter. Metis Global Partners LLC bought a new position in shares of Elme Communities during the fourth quarter valued at about $154,000. NewEdge Advisors LLC boosted its holdings in shares of 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 purchasing an additional 10,573 shares during the period. Meridian Wealth Management LLC purchased a new position in Elme Communities during the 4th quarter valued at about $171,000. Finally, Proficio Capital Partners LLC purchased a new position in Elme Communities during the 4th quarter valued at $180,000. Institutional investors own 87.88% of the company's stock.

Elme Communities Stock Up 1.8 %

Shares of Elme Communities stock traded up $0.28 on Friday, reaching $16.19. The company's stock had a trading volume of 1,024,558 shares, compared to its average volume of 585,531. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -115.64 and a beta of 0.84. 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 52 week low of $13.95 and a 52 week high of $18.49. The firm's fifty day simple moving average is $16.39 and its two-hundred day simple moving average is $16.14.

Elme Communities (NYSE:ELME - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. The company had revenue of $61.49 million during the quarter, compared to analyst estimates of $61.31 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. Elme Communities's revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Tuesday, June 17th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Tuesday, June 17th. Elme Communities's dividend payout ratio (DPR) is presently -514.29%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their price target 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 research note on Friday, January 17th.

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.