Elme Communities (NYSE:ELME) Shares Purchased by Teacher Retirement System of Texas

Posted by Defense World Staff on Oct 10th, 2023

Teacher Retirement System of Texas increased its stake in shares of Elme Communities (NYSE:ELME – Free Report) by 48.3% in the 2nd quarter, Holdings Channel reports. The firm owned 62,080 shares of the company’s stock after purchasing an additional 20,218 shares during the period. Teacher Retirement System of Texas’ holdings in Elme Communities were worth $1,021,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ELME. Louisiana State Employees Retirement System acquired a new stake in Elme Communities in the 2nd quarter valued at about $756,000. Allspring Global Investments Holdings LLC acquired a new stake in Elme Communities in the 2nd quarter valued at about $34,657,000. Maryland State Retirement & Pension System acquired a new stake in Elme Communities in the 2nd quarter valued at about $562,000. Woodstock Corp acquired a new stake in Elme Communities in the 2nd quarter valued at about $217,000. Finally, Macquarie Group Ltd. acquired a new stake in Elme Communities in the 1st quarter valued at about $321,000. Institutional investors and hedge funds own 88.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ELME. Truist Financial cut their price objective on shares of Elme Communities from $19.00 to $18.00 in a report on Wednesday, June 28th. Wells Fargo & Company cut their price target on shares of Elme Communities from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, September 12th.

Read Our Latest Research Report on ELME

Elme Communities Stock Up 2.0 %

Shares of NYSE ELME opened at $13.89 on Tuesday. The company has a 50 day simple moving average of $14.87 and a 200-day simple moving average of $15.96. The company has a market capitalization of $1.22 billion, a P/E ratio of -60.39 and a beta of 0.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.63 and a quick ratio of 0.63. Elme Communities has a 1 year low of $13.19 and a 1 year high of $20.24.

Elme Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.18%. Elme Communities’s dividend payout ratio is currently -313.04%.

About Elme Communities

(Free Report)

Elme Communities (formerly known as Washington Real Estate Investment Trust or WashREIT) 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 8,900 apartment homes in the Washington, DC metro and the Sunbelt, and owns approximately 300,000 square feet of commercial space.