Elme Communities (NYSE:ELME) Sets New 1-Year Low at $15.38

Elme Communities (NYSE:ELME – Get Rating)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $15.38 and last traded at $15.45, with a volume of 38479 shares traded. The stock had previously closed at $15.68.

Analysts Set New Price Targets

Separately, Truist Financial lifted their price objective on Elme Communities from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Tuesday, February 21st.

Elme Communities Trading Down 1.4 %

The company has a fifty day moving average price of $17.03 and a two-hundred day moving average price of $18.09. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Elme Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 22nd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Wednesday, June 21st. Elme Communities’s payout ratio is presently -240.00%.

Institutional Trading of Elme Communities

Several institutional investors have recently bought and sold shares of ELME. BlackRock Inc. acquired a new stake in Elme Communities in the 1st quarter valued at $304,764,000. FMR LLC acquired a new stake in Elme Communities in the 1st quarter valued at $160,800,000. Thornburg Investment Management Inc. acquired a new stake in Elme Communities in the 1st quarter valued at $42,072,000. Geode Capital Management LLC acquired a new stake in Elme Communities in the 1st quarter valued at $34,355,000. Finally, William Blair Investment Management LLC acquired a new stake in Elme Communities in the 1st quarter valued at $32,115,000. Institutional investors and hedge funds own 90.45% of the company’s stock.

Elme Communities Company Profile

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Elme Communities engages in the ownership and operation of income-producing real estate properties. It operates through the following segments: Office and Multifamily. The Office segment provides office space for various types of businesses and professions. The Multifamily segment provides rental housing for individuals and families throughout the Washington metro region.