Illinois Municipal Retirement Fund Has $733,000 Stock Holdings in Elme Communities (NYSE:ELME)

Illinois Municipal Retirement Fund raised its position in Elme Communities (NYSE:ELME) by 6.5% during the 4th quarter, HoldingsChannel reports. The fund owned 48,031 shares of the company’s stock after buying an additional 2,911 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Elme Communities were worth $733,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Elme Communities by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock valued at $60,000 after purchasing an additional 885 shares during the last quarter. KBC Group NV grew its position in Elme Communities by 51.8% in the third quarter. KBC Group NV now owns 4,526 shares of the company’s stock valued at $80,000 after purchasing an additional 1,544 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Elme Communities in the 3rd quarter valued at $86,000. Entropy Technologies LP bought a new stake in Elme Communities during the 4th quarter worth about $197,000. Finally, M&T Bank Corp boosted its stake in shares of Elme Communities by 9.5% during the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ELME shares. JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company boosted their target price 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.

Elme Communities Price Performance

Shares of NYSE ELME opened at $17.39 on Tuesday. 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 business’s 50 day moving average price is $15.49 and its two-hundred day moving average price is $16.49. The company has a market cap of $1.53 billion, a PE ratio of -124.21 and a beta of 0.91. Elme Communities has a twelve month low of $12.75 and a twelve month high of $18.49.

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

Elme Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Wednesday, March 19th. Elme Communities’s payout ratio is presently -514.29%.

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.