Elme Communities $ELME Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in Elme Communities (NYSE:ELME) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,960 shares of the company’s stock after selling 900 shares during the quarter. Corebridge Financial Inc. owned about 0.05% of Elme Communities worth $800,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ELME. Cbre Investment Management Listed Real Assets LLC lifted its position in Elme Communities by 119.3% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,459,062 shares of the company’s stock valued at $42,788,000 after buying an additional 1,337,974 shares during the last quarter. Nuveen LLC acquired a new position in Elme Communities in the first quarter valued at about $16,613,000. Northern Trust Corp lifted its position in Elme Communities by 54.9% in the fourth quarter. Northern Trust Corp now owns 1,510,239 shares of the company’s stock valued at $23,061,000 after buying an additional 535,440 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Elme Communities by 230.0% during the first quarter. Deutsche Bank AG now owns 381,185 shares of the company’s stock worth $6,633,000 after purchasing an additional 265,681 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Elme Communities by 34.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 899,141 shares of the company’s stock worth $13,730,000 after purchasing an additional 228,419 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Stock Up 0.4%

Shares of ELME opened at $17.20 on Friday. The stock has a market capitalization of $1.52 billion, a PE ratio of -114.63 and a beta of 1.02. Elme Communities has a 1 year low of $13.95 and a 1 year high of $18.49. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.51 and a current ratio of 0.51. The company’s 50-day simple moving average is $16.40 and its 200-day simple moving average is $16.31.

Elme Communities (NYSE:ELME) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $62.10 million for the quarter, compared to analysts’ expectations of $61.63 million. Elme Communities had a negative net margin of 5.78% and a negative return on equity of 1.33%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. Analysts forecast that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Wednesday, September 17th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 17th. 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.