Teacher Retirement System of Texas Makes New Investment in Elme Communities (NYSE:ELME)

Teacher Retirement System of Texas purchased a new stake in shares of Elme Communities (NYSE:ELME) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,291 shares of the company’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ELME. Jane Street Group LLC increased its position in Elme Communities by 50.8% during the 3rd quarter. Jane Street Group LLC now owns 169,361 shares of the company’s stock valued at $2,979,000 after purchasing an additional 57,038 shares during the period. Versor Investments LP purchased a new position in Elme Communities during the fourth quarter valued at approximately $596,000. Charles Schwab Investment Management Inc. raised its stake 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 in the last quarter. Verition Fund Management LLC purchased a new stake in Elme Communities during the third quarter worth $541,000. Finally, Barclays PLC lifted its holdings in Elme Communities by 64.9% during the third quarter. Barclays PLC now owns 177,438 shares of the company’s stock worth $3,121,000 after buying an additional 69,835 shares during the period. 87.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Elme Communities Stock Up 0.8 %

Elme Communities stock opened at $17.41 on Tuesday. The business has a fifty day moving average price of $16.47 and a 200-day moving average price of $16.45. Elme Communities has a 1-year low of $13.30 and a 1-year high of $18.49. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -124.32 and a beta of 0.86. 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 results on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. Equities research analysts forecast that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.14%. Elme Communities’s dividend payout ratio is currently -514.29%.

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.