Elme Communities (NYSE:ELME) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its holdings in Elme Communities (NYSE:ELME) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,554 shares of the company’s stock after selling 682 shares during the period. Sei Investments Co.’s holdings in Elme Communities were worth $773,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ELME. V3 Capital Management L.P. purchased a new stake in Elme Communities during the 1st quarter worth $13,738,000. Hunter Perkins Capital Management LLC grew its stake in shares of Elme Communities by 990.8% in the second quarter. Hunter Perkins Capital Management LLC now owns 325,865 shares of the company’s stock valued at $5,224,000 after buying an additional 295,990 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of Elme Communities by 16.9% in the first quarter. William Blair Investment Management LLC now owns 1,950,033 shares of the company’s stock valued at $27,144,000 after buying an additional 281,199 shares in the last quarter. Anson Funds Management LP purchased a new stake in shares of Elme Communities during the 1st quarter valued at about $2,233,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Elme Communities during the 1st quarter worth approximately $1,770,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Down 0.6 %

Shares of NYSE ELME opened at $16.84 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.55. Elme Communities has a 1 year low of $12.44 and a 1 year high of $18.49. The stock’s 50-day simple moving average is $17.40 and its 200-day simple moving average is $16.07. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -27.60 and a beta of 0.90.

Elme Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.72 annualized dividend and a yield of 4.28%. Elme Communities’s dividend payout ratio is presently -118.03%.

Analyst Ratings Changes

ELME has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. upped their target price 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.

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.