Elme Communities (NYSE:ELME) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP lifted its position in Elme Communities (NYSE:ELME) by 160.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,712 shares of the company’s stock after acquiring an additional 47,212 shares during the period. Quantbot Technologies LP owned 0.09% of Elme Communities worth $1,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Elme Communities by 3.1% in the 3rd quarter. FMR LLC now owns 5,637,288 shares of the company’s stock valued at $99,160,000 after acquiring an additional 171,486 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Elme Communities by 17.4% in the 3rd quarter. Bank of Montreal Can now owns 104,532 shares of the company’s stock valued at $1,825,000 after buying an additional 15,481 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Elme Communities by 8.5% in the third quarter. Daiwa Securities Group Inc. now owns 29,500 shares of the company’s stock worth $519,000 after buying an additional 2,306 shares during the last quarter. Cerity Partners LLC raised its position in Elme Communities by 2.2% during the third quarter. Cerity Partners LLC now owns 78,078 shares of the company’s stock valued at $1,373,000 after acquiring an additional 1,653 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Elme Communities by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,212 shares of the company’s stock valued at $30,241,000 after acquiring an additional 53,505 shares during the period. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Trading Down 0.1 %

Shares of ELME stock opened at $16.94 on Friday. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -112.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a 50 day simple moving average of $16.98 and a 200-day simple moving average of $16.62.

Elme Communities (NYSE:ELME) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.27). Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The company had revenue of $61.06 million for the quarter, compared to analyst estimates of $60.31 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.72 annualized dividend and a yield of 4.25%. Elme Communities’s dividend payout ratio (DPR) is currently -479.97%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ELME. Wells Fargo & Company raised their price objective on shares of Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Wolfe Research initiated coverage on shares of Elme Communities in a research report on Monday, October 21st. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th.

Elme Communities 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.