Elme Communities $ELME Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS increased its stake in shares of Elme Communities (NYSE:ELME) by 20.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,800 shares of the company’s stock after acquiring an additional 3,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Elme Communities were worth $317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cbre Investment Management Listed Real Assets LLC raised its stake in Elme Communities by 119.3% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,459,062 shares of the company’s stock worth $42,788,000 after acquiring an additional 1,337,974 shares in the last quarter. Northern Trust Corp raised its stake in Elme Communities by 2.7% during the 1st quarter. Northern Trust Corp now owns 1,550,363 shares of the company’s stock worth $26,976,000 after acquiring an additional 40,124 shares in the last quarter. Nuveen LLC acquired a new stake in Elme Communities during the 1st quarter worth $16,613,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Elme Communities by 6.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 638,149 shares of the company’s stock worth $11,104,000 after acquiring an additional 40,722 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Elme Communities by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 438,383 shares of the company’s stock worth $7,628,000 after acquiring an additional 11,581 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Elme Communities from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Truist Financial reissued a “hold” rating on shares of Elme Communities in a research report on Thursday, September 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Elme Communities in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.50.

Elme Communities Trading Up 0.0%

Shares of Elme Communities stock opened at $16.75 on Monday. Elme Communities has a 1 year low of $13.95 and a 1 year high of $18.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $1.48 billion, a P/E ratio of -111.63 and a beta of 1.01. The company’s fifty day moving average is $16.87 and its two-hundred day moving average is $16.23.

Elme Communities (NYSE:ELME) last issued its earnings results on Tuesday, August 5th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $62.10 million for the quarter, compared to the consensus estimate of $61.63 million. Elme Communities had a negative net margin of 5.78% and a negative return on equity of 1.33%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Wednesday, September 17th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.72 annualized dividend and a dividend yield of 4.3%. Elme Communities’s payout ratio is presently -480.00%.

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.