Tudor Investment Corp ET AL Makes New $205,000 Investment in Elme Communities (NYSE:ELME)

Tudor Investment Corp ET AL acquired a new stake in shares of Elme Communities (NYSE:ELME) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 13,441 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hunter Perkins Capital Management LLC boosted its position in shares of Elme Communities by 3.9% in 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. M&T Bank Corp increased its stake in Elme Communities by 10.1% in the 4th quarter. M&T Bank Corp now owns 12,691 shares of the company’s stock worth $194,000 after buying an additional 1,166 shares in the last quarter. American Century Companies Inc. raised its holdings in Elme Communities by 3.5% during the fourth quarter. American Century Companies Inc. now owns 35,202 shares of the company’s stock valued at $538,000 after acquiring an additional 1,193 shares during the period. Van ECK Associates Corp lifted its position in shares of Elme Communities by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 16,669 shares of the company’s stock valued at $255,000 after acquiring an additional 1,544 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake 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 acquiring an additional 2,511 shares during the period. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Stock Performance

NYSE ELME opened at $15.99 on Friday. 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 $13.95 and a 1-year high of $18.49. The business has a 50 day simple moving average of $16.22 and a two-hundred day simple moving average of $16.09. The stock has a market capitalization of $1.41 billion, a PE ratio of -114.21 and a beta of 0.96.

Elme Communities (NYSE:ELME) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, topping 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 business posted $0.23 earnings per share. Elme Communities’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts predict 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, July 3rd. Investors of record on Tuesday, June 17th will be given 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 dividend payout ratio is currently -480.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ELME shares. Wells Fargo & Company boosted their price target on Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Truist Financial raised 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.