Woodstock Corp bought a new stake in Elme Communities (NYSE:ELME – Free Report) during the second quarter, HoldingsChannel reports. The fund bought 13,225 shares of the company’s stock, valued at approximately $217,000.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Elme Communities during the first quarter worth about $304,764,000. FMR LLC purchased a new stake in shares of Elme Communities during the first quarter worth about $160,800,000. Thornburg Investment Management Inc. purchased a new stake in shares of Elme Communities during the first quarter worth about $42,072,000. Geode Capital Management LLC purchased a new stake in shares of Elme Communities during the first quarter worth about $34,355,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Elme Communities during the first quarter worth about $32,115,000. Institutional investors own 88.48% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on ELME shares. Truist Financial dropped their target price on shares of Elme Communities from $19.00 to $18.00 in a report on Wednesday, June 28th. Wells Fargo & Company lowered their price objective on shares of Elme Communities from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday.
Elme Communities Stock Down 0.5 %
ELME traded down $0.08 on Friday, hitting $14.81. The company had a trading volume of 201,844 shares, compared to its average volume of 558,303. Elme Communities has a 52-week low of $14.58 and a 52-week high of $20.24. The stock has a fifty day simple moving average of $15.71 and a 200-day simple moving average of $16.45. The firm has a market capitalization of $1.30 billion, a P/E ratio of -64.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.63 and a quick ratio of 0.63.
Elme Communities Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Tuesday, September 19th. Elme Communities’s dividend payout ratio is -313.04%.
About Elme Communities
Elme Communities (formerly known as Washington Real Estate Investment Trust or WashREIT) 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 8,900 apartment homes in the Washington, DC metro and the Sunbelt, and owns approximately 300,000 square feet of commercial space.
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