Bank of Montreal Can Buys Shares of 89,051 Elme Communities (NYSE:ELME)

Bank of Montreal Can purchased a new position in shares of Elme Communities (NYSE:ELME) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 89,051 shares of the company’s stock, valued at approximately $1,419,000.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Elme Communities by 162.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock valued at $27,000 after purchasing an additional 1,100 shares during the period. Archer Investment Corp lifted its holdings in shares of Elme Communities by 308.2% in the second quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock valued at $28,000 after buying an additional 1,350 shares during the period. Fifth Third Bancorp boosted its stake in Elme Communities by 438.1% during the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock valued at $29,000 after buying an additional 1,494 shares in the last quarter. GAMMA Investing LLC grew its holdings in Elme Communities by 149.2% during the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after acquiring an additional 1,725 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Elme Communities in the first quarter worth about $167,000. Institutional investors own 87.88% of the company’s stock.

Elme Communities Trading Down 0.4 %

Shares of ELME opened at $17.18 on Friday. The business’s 50-day moving average price is $17.40 and its 200 day moving average price is $16.01. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $1.51 billion, a P/E ratio of -28.16 and a beta of 0.90. Elme Communities has a 1-year low of $12.44 and a 1-year high of $18.49.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Thursday, September 19th. Elme Communities’s dividend payout ratio (DPR) is currently -118.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ELME shares. JPMorgan Chase & Co. upped their price target on shares of Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company raised their target price on shares of Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a 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.