30,781 Shares in Elme Communities (NYSE:ELME) Purchased by Verition Fund Management LLC

Verition Fund Management LLC bought a new stake in shares of Elme Communities (NYSE:ELME) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,781 shares of the company’s stock, valued at approximately $541,000.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Elme Communities by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company’s stock worth $16,508,000 after buying an additional 69,014 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Elme Communities during the third quarter valued at approximately $975,000. Charles Schwab Investment Management Inc. boosted its holdings in Elme Communities by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,212 shares of the company’s stock worth $30,241,000 after buying an additional 53,505 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Elme Communities during the 3rd quarter valued at about $306,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Elme Communities by 466.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 654,403 shares of the company’s stock valued at $11,511,000 after buying an additional 538,857 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Price Performance

ELME stock opened at $16.43 on Thursday. Elme Communities has a 12-month low of $12.74 and a 12-month high of $18.49. The business’s fifty day moving average price is $16.82 and its 200 day moving average price is $16.65. The company has a market capitalization of $1.45 billion, a PE ratio of -109.53 and a beta of 0.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63.

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

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.72 annualized dividend and a yield of 4.38%. Elme Communities’s dividend payout ratio is currently -480.00%.

Wall Street Analysts Forecast Growth

ELME has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wolfe Research initiated coverage on Elme Communities in a report on Monday, October 21st. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company boosted their price target on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th.

About Elme Communities

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.