Custom Index Systems LLC Invests $245,000 in Elme Communities (NYSE:ELME)

Custom Index Systems LLC purchased a new position in Elme Communities (NYSE:ELME) in the 2nd quarter, HoldingsChannel reports. The firm purchased 15,390 shares of the company’s stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake in Elme Communities by 162.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after buying an additional 1,100 shares during the period. Archer Investment Corp raised 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 worth $28,000 after buying an additional 1,350 shares during the period. Fifth Third Bancorp lifted its stake in shares of Elme Communities by 438.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock worth $29,000 after acquiring an additional 1,494 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Elme Communities by 149.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $46,000 after acquiring an additional 1,725 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Elme Communities in the 1st quarter valued at $167,000. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Trading Down 1.0 %

Shares of NYSE:ELME opened at $17.49 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.55 and a quick ratio of 0.55. The business’s 50 day moving average is $16.69 and its 200 day moving average is $15.39. Elme Communities has a 52-week low of $12.44 and a 52-week high of $17.93.

Elme Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 19th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, September 19th. Elme Communities’s dividend payout ratio (DPR) is presently -118.03%.

Analyst Ratings Changes

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

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.