Elme Communities (NYSE:ELME) Stock Price Up 3.7%

Elme Communities (NYSE:ELME - Get Free Report)'s share price was up 3.7% during mid-day trading on Monday . The company traded as high as $14.69 and last traded at $14.65. Approximately 71,675 shares were traded during trading, a decline of 89% from the average daily volume of 661,624 shares. The stock had previously closed at $14.13.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upgraded shares of Elme Communities from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $16.00 to $18.00 in a research report on Monday, December 18th.

Elme Communities Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 0.67 and a quick ratio of 0.67. The company has a 50-day simple moving average of $13.72 and a 200-day simple moving average of $13.82. The stock has a market cap of $1.30 billion, a PE ratio of -24.30 and a beta of 0.91.

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 20th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.86%. Elme Communities's dividend payout ratio is presently -118.03%.

Institutional Trading of Elme Communities

Several hedge funds and other institutional investors have recently made changes to their positions in ELME. Illinois Municipal Retirement Fund purchased a new stake in Elme Communities during the third quarter worth $682,000. Employees Retirement System of Texas purchased a new stake in shares of Elme Communities in the 3rd quarter worth about $1,228,000. Handelsbanken Fonder AB grew its stake in Elme Communities by 22.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,483 shares of the company's stock valued at $238,000 after acquiring an additional 3,195 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Elme Communities during the 2nd quarter valued at about $11,653,000. Finally, Daiwa Securities Group Inc. raised its position in Elme Communities by 3.9% during the third quarter. Daiwa Securities Group Inc. now owns 28,044 shares of the company's stock worth $383,000 after acquiring an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company's stock.

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.