Elme Communities (NYSE:ELME) Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC raised its stake in shares of Elme Communities (NYSE:ELME) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,934,863 shares of the company’s stock after acquiring an additional 46,755 shares during the period. William Blair Investment Management LLC owned approximately 2.20% of Elme Communities worth $29,545,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Hunter Perkins Capital Management LLC increased its position in shares of Elme Communities by 3.9% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock valued at $354,000 after acquiring an additional 875 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Elme Communities by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company’s stock valued at $2,239,000 after acquiring an additional 954 shares during the last quarter. M&T Bank Corp increased its position in shares of Elme Communities by 9.5% during the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock valued at $203,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV increased its position in shares of Elme Communities by 51.8% during the third quarter. KBC Group NV now owns 4,526 shares of the company’s stock valued at $80,000 after acquiring an additional 1,544 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Elme Communities by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 16,669 shares of the company’s stock valued at $255,000 after acquiring an additional 1,544 shares during the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Stock Down 1.7 %

Shares of Elme Communities stock opened at $17.16 on Wednesday. Elme Communities has a 52-week low of $12.81 and a 52-week high of $18.49. The company has a 50 day moving average of $16.01 and a 200 day moving average of $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 company has a market capitalization of $1.51 billion, a P/E ratio of -122.54 and a beta of 0.86.

Elme Communities (NYSE:ELME) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.20%. Elme Communities’s dividend payout ratio is currently -514.29%.

Analysts Set New Price Targets

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

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.