Intech Investment Management LLC Boosts Position in Elme Communities (NYSE:ELME)

Intech Investment Management LLC boosted its holdings in Elme Communities (NYSE:ELME) by 286.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 67,274 shares of the company’s stock after buying an additional 49,865 shares during the period. Intech Investment Management LLC’s holdings in Elme Communities were worth $1,027,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC raised its holdings in Elme Communities by 50.8% in the third quarter. Jane Street Group LLC now owns 169,361 shares of the company’s stock valued at $2,979,000 after buying an additional 57,038 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Elme Communities during the third quarter valued at approximately $975,000. Versor Investments LP acquired a new stake in shares of Elme Communities during the fourth quarter worth approximately $596,000. Charles Schwab Investment Management Inc. grew its position in shares of Elme Communities by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,212 shares of the company’s stock worth $30,241,000 after buying an additional 53,505 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Elme Communities during the third quarter worth approximately $541,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Price Performance

Shares of NYSE ELME opened at $17.08 on Friday. Elme Communities has a fifty-two week low of $13.30 and a fifty-two week high of $18.49. The firm’s 50-day simple moving average is $16.16 and its 200 day simple moving average is $16.48. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.50 billion, a P/E ratio of -121.96 and a beta of 0.86.

Elme Communities (NYSE:ELME) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. Equities analysts expect that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Wednesday, March 19th. Elme Communities’s payout ratio is -514.29%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. downgraded shares of Elme Communities from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $18.00 in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th.

About Elme Communities

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.