Elme Communities (NYSE:ELME) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its holdings in Elme Communities (NYSE:ELME) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 127,260 shares of the company’s stock after purchasing an additional 954 shares during the period. Public Employees Retirement System of Ohio’s holdings in Elme Communities were worth $2,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ELME. FMR LLC grew its stake in Elme Communities by 3.1% in the 3rd quarter. FMR LLC now owns 5,637,288 shares of the company’s stock valued at $99,160,000 after acquiring an additional 171,486 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Elme Communities by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,124,355 shares of the company’s stock valued at $37,367,000 after purchasing an additional 20,555 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Elme Communities by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,212 shares of the company’s stock valued at $30,241,000 after purchasing an additional 53,505 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Elme Communities by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,259,876 shares of the company’s stock valued at $20,069,000 after purchasing an additional 17,387 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Elme Communities by 7.1% during the second quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company’s stock worth $16,508,000 after purchasing an additional 69,014 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Stock Performance

ELME opened at $15.90 on Wednesday. Elme Communities has a twelve month low of $12.74 and a twelve month high of $18.49. The firm has a market capitalization of $1.40 billion, a PE ratio of -105.99 and a beta of 0.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $16.77 and its 200 day moving average price is $16.69.

Elme Communities (NYSE:ELME) last posted its quarterly 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 company had revenue of $61.06 million during the quarter, compared to analysts’ expectations of $60.31 million. During the same quarter last year, the company earned $0.24 earnings per share. Elme Communities’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 19th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.53%. Elme Communities’s dividend payout ratio is presently -479.97%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ELME. JPMorgan Chase & Co. lowered shares of Elme Communities from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $18.00 in a research note on Tuesday. Wells Fargo & Company raised their target price on Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Finally, Wolfe Research started coverage on Elme Communities in a research report on Monday, October 21st. They set a “peer perform” rating for the company.

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.