Elme Communities (NYSE:ELME) Short Interest Up 70.0% in April

Elme Communities (NYSE:ELME) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,700,000 shares, a growth of 70.0% from the March 31st total of 1,000,000 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average trading volume of 735,200 shares, the days-to-cover ratio is presently 2.3 days.

Elme Communities Stock Performance

Shares of Elme Communities stock opened at $15.04 on Monday. The business’s fifty day simple moving average is $13.86 and its 200 day simple moving average is $13.94. The firm has a market capitalization of $1.32 billion, a P/E ratio of -24.66 and a beta of 0.91. Elme Communities has a 12 month low of $12.44 and a 12 month high of $17.87. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.59.

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 given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Tuesday, March 19th. Elme Communities’s dividend payout ratio (DPR) is presently -118.03%.

Hedge Funds Weigh In On Elme Communities

Several hedge funds have recently made changes to their positions in ELME. Simplicity Wealth LLC bought a new stake in Elme Communities during the first quarter worth about $449,000. Hunter Perkins Capital Management LLC lifted its stake in Elme Communities by 52.8% during the first quarter. Hunter Perkins Capital Management LLC now owns 29,875 shares of the company’s stock worth $416,000 after purchasing an additional 10,325 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Elme Communities by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,186,343 shares of the company’s stock worth $30,434,000 after purchasing an additional 28,717 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Elme Communities by 9.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,995 shares of the company’s stock worth $190,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Elme Communities in the 4th quarter valued at about $3,942,000. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

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.