Elme Communities (NYSE:ELME - Free Report) had its price objective upped by Truist Financial from $15.00 to $16.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the stock.
Elme Communities Trading Up 1.6 %
NYSE:ELME traded up $0.26 during trading hours on Wednesday, hitting $16.19. 643,041 shares of the stock were exchanged, compared to its average volume of 691,744. The company has a market capitalization of $1.42 billion, a P/E ratio of -26.54 and a beta of 0.87. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.60. The company's 50 day moving average is $14.46 and its two-hundred day moving average is $14.09. Elme Communities has a twelve month low of $12.44 and a twelve month high of $17.19.
Elme Communities Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Thursday, June 20th will be issued a $0.18 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.72 annualized dividend and a yield of 4.45%. Elme Communities's dividend payout ratio is currently -118.03%.
Institutional Trading of Elme Communities
A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its stake in shares of Elme Communities by 1.4% during the fourth quarter. SG Americas Securities LLC now owns 62,759 shares of the company's stock worth $916,000 after purchasing an additional 849 shares during the period. Texas Permanent School Fund Corp increased its position in shares of Elme Communities by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 76,870 shares of the company's stock valued at $1,070,000 after buying an additional 1,028 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Elme Communities by 3.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 28,044 shares of the company's stock worth $383,000 after buying an additional 1,050 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Elme Communities by 9.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,995 shares of the company's stock valued at $190,000 after purchasing an additional 1,110 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Elme Communities by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 17,722 shares of the company's stock valued at $247,000 after purchasing an additional 1,218 shares during the period. Institutional investors and hedge funds own 87.88% of the company's stock.
About Elme Communities
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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.
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