Elme Communities (NYSE:ELME) Hits New 12-Month High at $16.57

Elme Communities (NYSE:ELME)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $16.57 and last traded at $16.55, with a volume of 154028 shares traded. The stock had previously closed at $16.37.

Wall Street Analyst Weigh In

Separately, Truist Financial lifted their target price on shares of Elme Communities from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, May 15th.

Elme Communities Stock Performance

The firm has a market cap of $1.46 billion, a P/E ratio of -27.07 and a beta of 0.89. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $15.64 and its 200-day simple moving average is $14.73.

Elme Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Thursday, June 20th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend was Thursday, June 20th. Elme Communities’s dividend payout ratio (DPR) is presently -118.03%.

Institutional Investors Weigh In On Elme Communities

A number of large investors have recently added to or reduced their stakes in ELME. V3 Capital Management L.P. bought a new stake in shares of Elme Communities during the 1st quarter valued at about $13,738,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Elme Communities by 520.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 463,942 shares of the company’s stock valued at $6,774,000 after purchasing an additional 389,207 shares in the last quarter. Hunter Perkins Capital Management LLC boosted its stake in shares of Elme Communities by 990.8% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 325,865 shares of the company’s stock valued at $5,224,000 after purchasing an additional 295,990 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Elme Communities by 16.9% during the 1st quarter. William Blair Investment Management LLC now owns 1,950,033 shares of the company’s stock valued at $27,144,000 after purchasing an additional 281,199 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Elme Communities during the 4th quarter valued at about $3,942,000. Institutional investors own 87.88% of the company’s stock.

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.