Elme Communities (NYSE:ELME) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in Elme Communities (NYSE:ELME) by 286.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,274 shares of the company’s stock after buying an additional 49,865 shares during the period. Intech Investment Management LLC owned 0.08% of Elme Communities worth $1,027,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ELME. KBC Group NV raised its position in Elme Communities by 51.8% in the 3rd quarter. KBC Group NV now owns 4,526 shares of the company’s stock valued at $80,000 after purchasing an additional 1,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Elme Communities during the 3rd quarter worth $86,000. Metis Global Partners LLC purchased a new position in Elme Communities during the 4th quarter worth $154,000. Meridian Wealth Management LLC purchased a new position in Elme Communities during the 4th quarter worth $171,000. Finally, Proficio Capital Partners LLC purchased a new position in Elme Communities during the 4th quarter worth $180,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ELME. Truist Financial upgraded shares of Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price target on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. downgraded shares of Elme Communities from an “overweight” rating to a “neutral” rating and cut their price target for the company from $19.00 to $18.00 in a report on Tuesday, December 17th.

Elme Communities Price Performance

Shares of NYSE ELME opened at $17.08 on Friday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -121.96 and a beta of 0.86. Elme Communities has a 52 week low of $13.30 and a 52 week high of $18.49. The company’s 50-day moving average price is $16.16 and its 200 day moving average price is $16.48. 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 released its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. As a group, research analysts forecast that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.22%. Elme Communities’s dividend payout ratio is currently -514.29%.

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.