Sumitomo Mitsui Trust Holdings Inc. Sells 2,482 Shares of Elme Communities (NYSE:ELME)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Elme Communities (NYSE:ELME) by 2.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 99,589 shares of the company’s stock after selling 2,482 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Elme Communities were worth $1,386,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Centersquare Investment Management LLC lifted its holdings in shares of Elme Communities by 5.9% during the fourth quarter. Centersquare Investment Management LLC now owns 1,605,919 shares of the company’s stock valued at $23,446,000 after purchasing an additional 89,197 shares during the last quarter. HGI Capital Management LLC bought a new stake in shares of Elme Communities during the fourth quarter valued at approximately $3,289,000. Lighthouse Investment Partners LLC bought a new stake in shares of Elme Communities during the fourth quarter valued at approximately $3,942,000. Bleakley Financial Group LLC increased its position in shares of Elme Communities by 29.1% during the fourth quarter. Bleakley Financial Group LLC now owns 34,925 shares of the company’s stock valued at $510,000 after acquiring an additional 7,882 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in shares of 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 valued at $6,774,000 after acquiring an additional 389,207 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Price Performance

Shares of ELME opened at $15.90 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.60. Elme Communities has a twelve month low of $12.44 and a twelve month high of $17.19. The company has a market capitalization of $1.40 billion, a P/E ratio of -26.07 and a beta of 0.89. The firm has a 50 day moving average of $15.55 and a 200 day moving average of $14.66.

Elme Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Thursday, June 20th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Thursday, June 20th. Elme Communities’s dividend payout ratio (DPR) is presently -118.03%.

Analyst Upgrades and Downgrades

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

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.