Carret Asset Management LLC Decreases Stock Holdings in Elme Communities (NYSE:ELME)

Carret Asset Management LLC lowered its stake in shares of Elme Communities (NYSE:ELME) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,215 shares of the company’s stock after selling 1,000 shares during the period. Carret Asset Management LLC’s holdings in Elme Communities were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ELME. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Elme Communities by 520.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 463,942 shares of the company’s stock worth $6,774,000 after buying an additional 389,207 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new stake in Elme Communities during the fourth quarter worth about $3,942,000. HGI Capital Management LLC purchased a new stake in Elme Communities during the fourth quarter worth about $3,289,000. Qube Research & Technologies Ltd boosted its holdings in Elme Communities by 486.0% during the third quarter. Qube Research & Technologies Ltd now owns 181,428 shares of the company’s stock worth $2,475,000 after buying an additional 150,470 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in Elme Communities during the third quarter worth about $1,228,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial upped their price target on shares of Elme Communities from $15.00 to $16.00 and gave the company a “hold” rating in a report on Wednesday, May 15th.

Elme Communities Stock Down 2.0 %

Shares of NYSE ELME opened at $15.35 on Thursday. Elme Communities has a 12-month low of $12.44 and a 12-month high of $17.19. The company has a market capitalization of $1.35 billion, a PE ratio of -25.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s 50-day moving average is $15.51 and its two-hundred day moving average is $14.62.

Elme Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Thursday, June 20th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Thursday, June 20th. Elme Communities’s dividend payout ratio (DPR) is presently -118.03%.

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.