Elme Communities (NYSE:ELME) Short Interest Up 18.0% in May

Elme Communities (NYSE:ELMEGet Free Report) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 1,640,000 shares, a growth of 18.0% from the April 30th total of 1,390,000 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average trading volume of 682,500 shares, the short-interest ratio is presently 2.4 days.

Analyst Ratings Changes

Separately, Truist Financial upped their target price on shares of Elme Communities from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Wednesday, May 15th.

View Our Latest Report on Elme Communities

Institutional Investors Weigh In On Elme Communities

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of Elme Communities during the 4th quarter valued at approximately $25,000. Tower Research Capital LLC TRC grew its position in shares of Elme Communities by 116.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,117 shares of the company’s stock valued at $60,000 after acquiring an additional 2,218 shares during the period. Quadrature Capital Ltd bought a new position in shares of Elme Communities during the 3rd quarter valued at approximately $145,000. PNC Financial Services Group Inc. grew its position in shares of Elme Communities by 36.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,885 shares of the company’s stock valued at $162,000 after acquiring an additional 3,165 shares during the period. Finally, Caxton Associates LP bought a new position in shares of Elme Communities during the 3rd quarter valued at approximately $166,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Up 0.7 %

NYSE:ELME traded up $0.10 on Friday, hitting $15.41. The stock had a trading volume of 734,066 shares, compared to its average volume of 671,585. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $1.36 billion, a P/E ratio of -25.26 and a beta of 0.87. Elme Communities has a 1 year low of $12.44 and a 1 year high of $17.19. The firm’s fifty day simple moving average is $14.97 and its two-hundred day simple moving average is $14.29.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Thursday, June 20th will be paid a $0.18 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.72 annualized dividend and a yield of 4.67%. Elme Communities’s dividend payout ratio (DPR) is -118.03%.

About Elme Communities

(Get Free Report)

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.

Read More

Receive News & Ratings for Elme Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elme Communities and related companies with MarketBeat.com's FREE daily email newsletter.