Elme Communities (NYSE:ELME) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of Elme Communities (NYSE:ELME) by 4.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 28,942 shares of the company’s stock after selling 1,500 shares during the period. New York State Common Retirement Fund’s holdings in Elme Communities were worth $442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Elme Communities by 3.1% during the third 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 during the last quarter. Geode Capital Management LLC boosted its position in Elme Communities by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,234,902 shares of the company’s stock valued at $39,319,000 after purchasing an additional 12,999 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Elme Communities by 0.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,143,320 shares of the company’s stock worth $32,321,000 after buying an additional 18,965 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Elme Communities by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,212 shares of the company’s stock worth $30,241,000 after buying an additional 53,505 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Elme Communities by 466.4% in 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 buying an additional 538,857 shares during the last quarter. Institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Down 1.1 %

Shares of Elme Communities stock opened at $17.19 on Wednesday. Elme Communities has a 1-year low of $12.77 and a 1-year high of $18.49. The company has a market capitalization of $1.51 billion, a P/E ratio of -122.75 and a beta of 0.91. The business’s fifty day moving average price is $15.54 and its two-hundred day moving average price is $16.49. 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 (NYSE:ELME) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share 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 forecast that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, March 19th. Elme Communities’s dividend payout ratio is currently -514.29%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. lowered shares of Elme Communities from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company upped their target price on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th.

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.