Martingale Asset Management L P Buys Shares of 87,271 Elme Communities (NYSE:ELME)

Martingale Asset Management L P purchased a new position in shares of Elme Communities (NYSE:ELME) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 87,271 shares of the company’s stock, valued at approximately $1,535,000. Martingale Asset Management L P owned approximately 0.10% of Elme Communities at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ELME. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Elme Communities by 466.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 654,403 shares of the company’s stock valued at $11,511,000 after acquiring an additional 538,857 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Elme Communities by 160.0% during the 3rd quarter. Quantbot Technologies LP now owns 76,712 shares of the company’s stock worth $1,349,000 after purchasing an additional 47,212 shares during the last quarter. FMR LLC raised its holdings in shares of Elme Communities by 3.1% during the 3rd quarter. FMR LLC now owns 5,637,288 shares of the company’s stock valued at $99,160,000 after purchasing an additional 171,486 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Elme Communities by 17.4% in the 3rd quarter. Bank of Montreal Can now owns 104,532 shares of the company’s stock valued at $1,825,000 after purchasing an additional 15,481 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Elme Communities by 8.5% in the third quarter. Daiwa Securities Group Inc. now owns 29,500 shares of the company’s stock worth $519,000 after purchasing an additional 2,306 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Trading Down 0.1 %

Shares of NYSE:ELME opened at $16.94 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.55 and a current ratio of 0.55. The stock’s 50-day moving average is $16.98 and its 200-day moving average is $16.62. The company has a market cap of $1.49 billion, a P/E ratio of -112.93 and a beta of 0.89. Elme Communities has a 52-week low of $12.74 and a 52-week high of $18.49.

Elme Communities (NYSE:ELME) last released its earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.27). Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The business had revenue of $61.06 million during the quarter, compared to analyst estimates of $60.31 million. During the same period last year, the business earned $0.24 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be given a $0.18 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.72 annualized dividend and a yield of 4.25%. Elme Communities’s dividend payout ratio is -480.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ELME shares. JPMorgan Chase & Co. raised their target price on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wolfe Research initiated coverage on Elme Communities in a research report on Monday, October 21st. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company lifted their price target on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th.

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.