Wolverine Asset Management LLC Has $302,000 Holdings in Elme Communities (NYSE:ELME)

Wolverine Asset Management LLC decreased its position in shares of Elme Communities (NYSE:ELME) by 80.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,755 shares of the company’s stock after selling 82,155 shares during the period. Wolverine Asset Management LLC’s holdings in Elme Communities were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ELME. Principal Financial Group Inc. lifted its position in shares of Elme Communities by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 426,802 shares of the company’s stock worth $6,517,000 after purchasing an additional 11,930 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Elme Communities by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 16,669 shares of the company’s stock valued at $255,000 after purchasing an additional 1,544 shares during the period. Allspring Global Investments Holdings LLC grew its position in Elme Communities by 0.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,143,320 shares of the company’s stock worth $32,321,000 after purchasing an additional 18,965 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Elme Communities during the 4th quarter worth about $197,000. Finally, abrdn plc increased its holdings in shares of Elme Communities by 30.6% during the 4th quarter. abrdn plc now owns 22,946 shares of the company’s stock worth $342,000 after purchasing an additional 5,378 shares during the period. 87.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ELME. Wells Fargo & Company lifted their target price on Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. lowered shares of Elme Communities from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $18.00 in a report on Tuesday, December 17th. Finally, Truist Financial upgraded shares of Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th.

Elme Communities Trading Up 0.1 %

Shares of ELME opened at $17.11 on Monday. The stock has a market cap of $1.51 billion, a PE ratio of -122.18 and a beta of 0.91. The stock has a 50 day simple moving average of $15.30 and a 200-day simple moving average of $16.48. Elme Communities has a 1 year low of $12.74 and a 1 year high of $18.49. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65.

Elme Communities (NYSE:ELME) last announced its earnings results on Thursday, February 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. On average, sell-side analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.21%. Elme Communities’s dividend payout ratio (DPR) is currently -514.29%.

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.