Elme Communities (NYSE:ELME) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Elme Communities (NYSE:ELME) by 5.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,118 shares of the company’s stock after buying an additional 3,177 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Elme Communities worth $1,063,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Deutsche Bank AG raised its position in shares of Elme Communities by 230.0% during the 1st 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 during the period. Phocas Financial Corp. acquired a new stake in shares of Elme Communities during the 1st quarter worth approximately $3,269,000. PNC Financial Services Group Inc. increased its position in Elme Communities by 12.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company’s stock valued at $177,000 after acquiring an additional 1,164 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Elme Communities in the 1st quarter valued at approximately $1,125,000. Finally, Allianz Asset Management GmbH acquired a new stake in Elme Communities in the 1st quarter valued at approximately $924,000. 87.88% of the stock is currently owned by institutional investors and hedge funds.

Elme Communities Stock Up 0.8%

ELME opened at $16.61 on Thursday. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.49. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market cap of $1.46 billion, a P/E ratio of -110.73 and a beta of 0.98. The stock’s 50 day moving average price is $16.12 and its 200 day moving average price is $16.16.

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, beating analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $62.10 million during the quarter, compared to analyst estimates of $61.63 million. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. As a group, research analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Wednesday, September 17th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, September 17th. Elme Communities’s dividend payout ratio (DPR) is presently -480.00%.

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.