KBC Group NV Buys 1,544 Shares of Elme Communities (NYSE:ELME)

KBC Group NV grew its stake in shares of Elme Communities (NYSE:ELME) by 51.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,526 shares of the company’s stock after acquiring an additional 1,544 shares during the quarter. KBC Group NV’s holdings in Elme Communities were worth $80,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ELME. Renaissance Technologies LLC boosted its stake in Elme Communities by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company’s stock worth $16,508,000 after acquiring an additional 69,014 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Elme Communities by 149.2% during the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after purchasing an additional 1,725 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Elme Communities by 123.8% in the 2nd quarter. TCW Group Inc. now owns 123,104 shares of the company’s stock valued at $1,961,000 after buying an additional 68,103 shares during the period. ProShare Advisors LLC increased its position in shares of Elme Communities by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 17,722 shares of the company’s stock valued at $247,000 after buying an additional 1,218 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Elme Communities by 6.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,540 shares of the company’s stock worth $760,000 after buying an additional 3,152 shares during the period. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Price Performance

Shares of NYSE ELME opened at $16.16 on Friday. The firm has a market cap of $1.42 billion, a PE ratio of -106.93 and a beta of 0.89. The company has a fifty day moving average price of $17.15 and a 200 day moving average price of $16.57. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49.

Elme Communities (NYSE:ELME) last announced its earnings results on Monday, November 4th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.27). Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The business had revenue of $61.06 million for the quarter, compared to analyst estimates of $60.31 million. During the same quarter in the previous year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 19th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Thursday, December 19th. Elme Communities’s dividend payout ratio is currently -479.97%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ELME. JPMorgan Chase & Co. boosted their target price on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wolfe Research assumed coverage on Elme Communities in a report on Monday, October 21st. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company increased their target price on Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th.

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.