Elme Communities (NYSE:ELME) Short Interest Down 5.4% in September

Elme Communities (NYSE:ELME) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,390,000 shares, a decrease of 5.4% from the September 15th total of 1,470,000 shares. Based on an average trading volume of 467,900 shares, the short-interest ratio is currently 3.0 days. Currently, 1.6% of the shares of the company are sold short.

Elme Communities Trading Up 0.3 %

NYSE ELME opened at $17.05 on Friday. Elme Communities has a one year low of $12.44 and a one year high of $18.49. The firm has a 50 day simple moving average of $17.42 and a 200-day simple moving average of $16.20. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -27.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.55.

Elme Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th were paid a $0.18 dividend. The ex-dividend date was Thursday, September 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.22%. Elme Communities’s dividend payout ratio (DPR) is -118.03%.

Institutional Trading of Elme Communities

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Elme Communities by 888.4% during the third quarter. Blue Trust Inc. now owns 10,675 shares of the company’s stock worth $188,000 after buying an additional 9,595 shares during the period. Inspire Investing LLC increased its position in shares of Elme Communities by 5.9% in the 3rd quarter. Inspire Investing LLC now owns 23,419 shares of the company’s stock valued at $412,000 after purchasing an additional 1,300 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Elme Communities in the 3rd quarter valued at $599,000. Susquehanna Fundamental Investments LLC lifted its position in shares of Elme Communities by 37.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 175,037 shares of the company’s stock worth $2,788,000 after purchasing an additional 47,859 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Elme Communities by 3.1% during the second quarter. The Manufacturers Life Insurance Company now owns 74,951 shares of the company’s stock worth $1,194,000 after purchasing an additional 2,257 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ELME has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. lifted their price objective on Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th.

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.