Principal Financial Group Inc. Purchases 11,581 Shares of Elme Communities (NYSE:ELME)

Principal Financial Group Inc. increased its holdings in Elme Communities (NYSE:ELME) by 2.7% during the 1st quarter, HoldingsChannel reports. The firm owned 438,383 shares of the company’s stock after buying an additional 11,581 shares during the period. Principal Financial Group Inc.’s holdings in Elme Communities were worth $7,628,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. William Blair Investment Management LLC increased its stake in shares of Elme Communities by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,934,863 shares of the company’s stock worth $29,545,000 after acquiring an additional 46,755 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Elme Communities by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,730,227 shares of the company’s stock valued at $26,421,000 after purchasing an additional 11,015 shares during the last quarter. Argosy Lionbridge Management LLC acquired a new stake in Elme Communities in the 4th quarter valued at approximately $25,275,000. Northern Trust Corp boosted its stake in shares of Elme Communities by 54.9% during the 4th quarter. Northern Trust Corp now owns 1,510,239 shares of the company’s stock worth $23,061,000 after acquiring an additional 535,440 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Elme Communities by 38.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,461,007 shares of the company’s stock valued at $22,310,000 after purchasing an additional 407,607 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Elme Communities Stock Down 1.3%

NYSE ELME opened at $16.26 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average is $16.07 and its two-hundred day moving average is $15.97. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -108.39 and a beta of 0.97. Elme Communities has a 1-year low of $13.95 and a 1-year high of $18.49.

Elme Communities (NYSE:ELME) last announced its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Elme Communities had a negative return on equity of 1.30% and a negative net margin of 5.79%. The business had revenue of $61.49 million for the quarter, compared to the consensus estimate of $61.31 million. During the same period in the previous year, the business earned $0.23 EPS. Elme Communities’s revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Tuesday, June 17th were issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.72 annualized dividend and a yield of 4.43%. Elme Communities’s dividend payout ratio is currently -480.00%.

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.