BNP Paribas Financial Markets Sells 2,256 Shares of Elme Communities (NYSE:ELME)

BNP Paribas Financial Markets trimmed its holdings in Elme Communities (NYSE:ELME) by 6.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,912 shares of the company’s stock after selling 2,256 shares during the quarter. BNP Paribas Financial Markets’ holdings in Elme Communities were worth $561,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TCW Group Inc. lifted its position in Elme Communities by 123.8% during the second quarter. TCW Group Inc. now owns 123,104 shares of the company’s stock valued at $1,961,000 after purchasing an additional 68,103 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Elme Communities by 438.1% in the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock worth $29,000 after purchasing an additional 1,494 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Elme Communities by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 44,300 shares of the company’s stock valued at $706,000 after acquiring an additional 800 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Elme Communities by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 811,421 shares of the company’s stock worth $12,926,000 after buying an additional 11,802 shares in the last quarter. Finally, LDR Capital Management LLC bought a new stake in shares of Elme Communities in the 2nd quarter valued at about $367,000. 87.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wolfe Research started coverage on Elme Communities in a research note on Monday, October 21st. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their price objective 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. Finally, Wells Fargo & Company boosted their price target on Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, September 13th.

Elme Communities Price Performance

ELME stock opened at $16.35 on Friday. 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 business has a 50 day simple moving average of $16.79 and a 200-day simple moving average of $16.66. The firm has a market capitalization of $1.44 billion, a PE ratio of -108.96 and a beta of 0.89.

Elme Communities (NYSE:ELME) last posted its earnings results on Monday, November 4th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.27). The business had revenue of $61.06 million during the quarter, compared to analysts’ expectations of $60.31 million. Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. Elme Communities’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 EPS. Equities research analysts anticipate that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 19th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.41%. The ex-dividend date is Thursday, December 19th. Elme Communities’s payout ratio is -479.97%.

Elme Communities 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.