Elme Communities (NYSE:ELME) Sees Unusually-High Trading Volume

Shares of Elme Communities (NYSE:ELME) saw an uptick in trading volume on Tuesday . 808,253 shares were traded during trading, an increase of 23% from the previous session’s volume of 658,335 shares.The stock last traded at $15.66 and had previously closed at $15.60.

Wall Street Analyst Weigh In

Separately, Truist Financial increased their target price 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 Performance

The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60. The company’s fifty day moving average is $15.51 and its 200 day moving average is $14.62. The company has a market cap of $1.35 billion, a P/E ratio of -25.16 and a beta of 0.89.

Elme Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Thursday, June 20th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Thursday, June 20th. Elme Communities’s dividend payout ratio is currently -118.03%.

Institutional Investors Weigh In On Elme Communities

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Elme Communities in the 4th quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in Elme Communities by 162.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after acquiring an additional 1,100 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Elme Communities by 116.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,117 shares of the company’s stock worth $60,000 after acquiring an additional 2,218 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Elme Communities in the 3rd quarter worth $145,000. Finally, PNC Financial Services Group Inc. grew its holdings in Elme Communities by 36.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 11,885 shares of the company’s stock worth $162,000 after acquiring an additional 3,165 shares during the last quarter. Institutional investors own 87.88% of the company’s stock.

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.