Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $722,000 Stock Holdings in Elme Communities (NYSE:ELME)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Elme Communities (NYSE:ELME) by 37.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,250 shares of the company’s stock after buying an additional 12,979 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.05% of Elme Communities worth $722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hunter Perkins Capital Management LLC increased its stake in shares of Elme Communities by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock valued at $354,000 after buying an additional 875 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Elme Communities by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company’s stock worth $2,239,000 after acquiring an additional 954 shares during the last quarter. M&T Bank Corp increased its position in Elme Communities by 9.5% in the 3rd 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 period. Van ECK Associates Corp raised its stake 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. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Elme Communities by 1.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 108,900 shares of the company’s stock worth $1,916,000 after purchasing an additional 1,600 shares during the period. Institutional investors own 87.88% of the company’s stock.

Elme Communities Price Performance

ELME stock opened at $17.35 on Thursday. 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 firm has a market cap of $1.53 billion, a price-to-earnings ratio of -123.89 and a beta of 0.86. The company’s fifty day simple moving average is $16.32 and its 200 day simple moving average is $16.47. Elme Communities has a 12-month low of $13.30 and a 12-month high of $18.49.

Elme Communities (NYSE:ELME) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 expect that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

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 paid a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.15%. Elme Communities’s dividend payout ratio is currently -514.29%.

Analysts Set New Price Targets

ELME has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $19.00 to $18.00 in a report on Tuesday, December 17th. Wells Fargo & Company increased their price target on Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Finally, Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th.

Elme Communities 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.