Asset Management One Co. Ltd. Sells 5,083 Shares of Elme Communities (NYSE:ELME)

Asset Management One Co. Ltd. reduced its stake in Elme Communities (NYSE:ELME) by 2.4% during the 4th quarter, Holdings Channel reports. The fund owned 205,641 shares of the company’s stock after selling 5,083 shares during the period. Asset Management One Co. Ltd.’s holdings in Elme Communities were worth $3,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Verdence Capital Advisors LLC increased its holdings in shares of Elme Communities by 5.7% during the third quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company’s stock worth $282,000 after purchasing an additional 867 shares during the period. Hunter Perkins Capital Management LLC increased its holdings in shares of Elme Communities by 3.9% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock worth $354,000 after purchasing an additional 875 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Elme Communities by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after purchasing an additional 885 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Elme Communities by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company’s stock worth $2,239,000 after purchasing an additional 954 shares during the period. Finally, M&T Bank Corp increased its holdings in shares of Elme Communities by 9.5% during the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after purchasing an additional 1,000 shares during the period. 87.88% of the stock is owned by institutional investors.

Elme Communities Stock Performance

Shares of NYSE:ELME opened at $16.77 on Thursday. The company’s 50 day simple moving average is $15.28 and its 200 day simple moving average is $16.48. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -119.81 and a beta of 0.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55. Elme Communities has a 1 year low of $12.74 and a 1 year high of $18.49.

Elme Communities (NYSE:ELME) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. As a group, research analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.29%. Elme Communities’s dividend payout ratio (DPR) is -514.29%.

Analyst Upgrades and Downgrades

ELME has been the topic of several recent research reports. JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $19.00 to $18.00 in a report on Tuesday, December 17th. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th.

Elme Communities 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.