Allspring Global Investments Holdings LLC Has $32.32 Million Holdings in Elme Communities (NYSE:ELME)

Allspring Global Investments Holdings LLC raised its position in shares of Elme Communities (NYSE:ELME) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,143,320 shares of the company’s stock after purchasing an additional 18,965 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Elme Communities were worth $32,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ELME. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Elme Communities by 466.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 654,403 shares of the company’s stock valued at $11,511,000 after purchasing an additional 538,857 shares during the period. FMR LLC increased its position in Elme Communities by 3.1% during the 3rd quarter. FMR LLC now owns 5,637,288 shares of the company’s stock valued at $99,160,000 after purchasing an additional 171,486 shares during the period. Martingale Asset Management L P bought a new position in shares of Elme Communities during the 3rd quarter worth approximately $1,535,000. Barclays PLC boosted its holdings in shares of Elme Communities by 64.9% during the 3rd quarter. Barclays PLC now owns 177,438 shares of the company’s stock worth $3,121,000 after buying an additional 69,835 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Elme Communities by 50.8% during the 3rd quarter. Jane Street Group LLC now owns 169,361 shares of the company’s stock worth $2,979,000 after buying an additional 57,038 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ELME shares. Wolfe Research started coverage on Elme Communities in a report on Monday, October 21st. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. cut Elme Communities from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $19.00 to $18.00 in a report on Tuesday, December 17th. Finally, Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th.

Elme Communities Price Performance

Shares of ELME opened at $17.28 on Friday. Elme Communities has a 12-month low of $12.74 and a 12-month high of $18.49. The business’s fifty day moving average is $15.25 and its 200 day moving average is $16.47. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.63. The stock has a market cap of $1.52 billion, a P/E ratio of -115.21 and a beta of 0.91.

Elme Communities (NYSE:ELME) last issued its earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. Sell-side analysts anticipate that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Wednesday, March 19th. Elme Communities’s payout ratio is currently -479.97%.

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.