Exchange Traded Concepts LLC bought a new position in shares of Elme Communities (NYSE:ELME – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,190 shares of the company’s stock, valued at approximately $36,000.
Several other large investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Elme Communities during the 1st quarter worth $304,764,000. FMR LLC acquired a new stake in shares of Elme Communities during the 1st quarter worth $160,800,000. Thornburg Investment Management Inc. acquired a new stake in shares of Elme Communities during the 1st quarter worth $42,072,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Elme Communities during the 2nd quarter worth $34,657,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Elme Communities during the 1st quarter worth $34,355,000. 88.48% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Elme Communities from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 12th. Truist Financial reduced their price objective on Elme Communities from $19.00 to $18.00 in a research note on Wednesday, June 28th.
Elme Communities Stock Performance
NYSE:ELME opened at $14.29 on Thursday. The stock’s 50-day simple moving average is $14.84 and its 200 day simple moving average is $15.94. The firm has a market capitalization of $1.25 billion, a PE ratio of -62.11 and a beta of 0.98. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.44. Elme Communities has a twelve month low of $13.19 and a twelve month high of $20.24.
Elme Communities Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 5.04%. The ex-dividend date was Tuesday, September 19th. Elme Communities’s dividend payout ratio (DPR) is presently -313.04%.
Elme Communities Company Profile
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.
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