Tower Research Capital LLC TRC Sells 5,601 Shares of Elme Communities (NYSE:ELME)

Tower Research Capital LLC TRC cut its position in shares of Elme Communities (NYSE:ELME) by 44.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,100 shares of the company’s stock after selling 5,601 shares during the period. Tower Research Capital LLC TRC’s holdings in Elme Communities were worth $108,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Barclays PLC boosted its position in Elme Communities by 64.9% during the third quarter. Barclays PLC now owns 177,438 shares of the company’s stock valued at $3,121,000 after buying an additional 69,835 shares during the period. Tidal Investments LLC purchased a new stake in Elme Communities during the 3rd quarter valued at about $377,000. Inspire Investing LLC grew its position in Elme Communities by 13.3% during the 4th quarter. Inspire Investing LLC now owns 26,536 shares of the company’s stock worth $405,000 after acquiring an additional 3,117 shares during the last quarter. Blue Trust Inc. increased its stake in Elme Communities by 58.5% in the 4th quarter. Blue Trust Inc. now owns 16,917 shares of the company’s stock worth $258,000 after purchasing an additional 6,242 shares during the period. Finally, Hunter Perkins Capital Management LLC lifted its position in Elme Communities by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock valued at $354,000 after purchasing an additional 875 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Elme Communities Trading Up 1.0 %

NYSE:ELME opened at $16.01 on Friday. The company has a 50-day moving average price of $16.24 and a 200-day moving average price of $16.10. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -114.39 and a beta of 0.96. 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.

Elme Communities (NYSE:ELME) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $61.49 million during the quarter, compared to analyst estimates of $61.31 million. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. Elme Communities’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. Equities analysts predict 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 paid a $0.18 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.72 annualized dividend and a yield of 4.50%. Elme Communities’s payout ratio is -480.00%.

Analyst Ratings Changes

ELME has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Truist Financial upgraded 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.