Price T Rowe Associates Inc. MD Acquires 6,582 Shares of Elme Communities (NYSE:ELME)

Price T Rowe Associates Inc. MD increased its holdings in Elme Communities (NYSE:ELME) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,379 shares of the company’s stock after purchasing an additional 6,582 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.08% of Elme Communities worth $1,136,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ELME. Sterling Capital Management LLC increased its holdings in shares of Elme Communities by 817.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company’s stock worth $43,000 after buying an additional 2,511 shares during the period. Metis Global Partners LLC purchased a new position in Elme Communities in the 4th quarter worth approximately $154,000. NewEdge Advisors LLC lifted its position in Elme Communities by 6,041.7% in the fourth quarter. NewEdge Advisors LLC now owns 10,748 shares of the company’s stock valued at $164,000 after purchasing an additional 10,573 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of Elme Communities during the fourth quarter valued at approximately $171,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Elme Communities in the fourth quarter worth approximately $180,000. 87.88% of the stock is owned by institutional investors.

Elme Communities Stock Down 0.1 %

Shares of Elme Communities stock opened at $15.99 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. Elme Communities has a 12-month low of $13.95 and a 12-month high of $18.49. The company has a market cap of $1.41 billion, a P/E ratio of -114.21 and a beta of 0.96. The company’s fifty day simple moving average is $16.22 and its two-hundred day simple moving average is $16.10.

Elme Communities (NYSE:ELME) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. The company had revenue of $61.49 million for the quarter, compared to analysts’ expectations of $61.31 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. Elme Communities’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts anticipate that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Tuesday, June 17th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, June 17th. This represents a $0.72 annualized dividend and a dividend yield of 4.50%. Elme Communities’s dividend payout ratio is presently -480.00%.

Analyst Upgrades and Downgrades

ELME has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Truist Financial upgraded shares of Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th.

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.