Elme Communities (NYSE:ELME – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $17.05, but opened at $16.70. Elme Communities shares last traded at $16.67, with a volume of 155,036 shares traded.
Analyst Ratings Changes
A number of analysts have recently issued reports on ELME shares. Wells Fargo & Company increased 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 note on Monday. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.
View Our Latest Stock Report on ELME
Elme Communities Stock Up 3.0 %
Elme Communities Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.14%. Elme Communities’s payout ratio is -118.03%.
Institutional Investors Weigh In On Elme Communities
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. V3 Capital Management L.P. purchased a new position in Elme Communities during the 1st quarter valued at about $13,738,000. DigitalBridge Group Inc. purchased a new position in shares of Elme Communities in the 2nd quarter worth approximately $8,132,000. Hunter Perkins Capital Management LLC grew its position in shares of Elme Communities by 990.8% in the 2nd quarter. Hunter Perkins Capital Management LLC now owns 325,865 shares of the company’s stock worth $5,224,000 after buying an additional 295,990 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Elme Communities by 16.9% in the 1st quarter. William Blair Investment Management LLC now owns 1,950,033 shares of the company’s stock worth $27,144,000 after buying an additional 281,199 shares during the last quarter. Finally, Anson Funds Management LP purchased a new position in shares of Elme Communities in the 1st quarter worth approximately $2,233,000. Institutional investors own 87.88% of the company’s stock.
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.
See Also
- Five stocks we like better than Elme Communities
- Find and Profitably Trade Stocks at 52-Week Lows
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- Are Penny Stocks a Good Fit for Your Portfolio?
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Receive News & Ratings for Elme Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elme Communities and related companies with MarketBeat.com's FREE daily email newsletter.