Allspring Global Investments Holdings LLC Acquires 18,965 Shares of Elme Communities (NYSE:ELME)

Allspring Global Investments Holdings LLC grew its holdings in Elme Communities (NYSE:ELME) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,143,320 shares of the company’s stock after acquiring an additional 18,965 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.44% of Elme Communities worth $32,321,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ELME. FMR LLC lifted its position in Elme Communities by 3.1% during the third quarter. FMR LLC now owns 5,637,288 shares of the company’s stock worth $99,160,000 after purchasing an additional 171,486 shares during the period. Geode Capital Management LLC lifted its position in Elme Communities by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,234,902 shares of the company’s stock worth $39,319,000 after purchasing an additional 12,999 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 53,505 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Elme Communities by 466.4% during 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 worth $11,511,000 after purchasing an additional 538,857 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in Elme Communities by 0.8% during the third quarter. Asset Management One Co. Ltd. now owns 210,724 shares of the company’s stock worth $3,707,000 after purchasing an additional 1,634 shares during the period. Institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Performance

Elme Communities stock opened at $17.28 on Friday. The business has a 50 day moving average of $15.25 and a 200-day moving average of $16.47. Elme Communities has a 1 year low of $12.74 and a 1 year high of $18.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $1.52 billion, a P/E ratio of -115.21 and a beta of 0.91.

Elme Communities (NYSE:ELME) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. On average, equities research analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Wednesday, March 19th. Elme Communities’s dividend payout ratio is currently -479.97%.

Wall Street Analyst Weigh In

Several brokerages have commented on ELME. Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Wolfe Research began coverage on Elme Communities in a research note on Monday, October 21st. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $19.00 to $18.00 in a research note on Tuesday, December 17th.

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.