Elme Communities (NYSE:ELME) Receives New Coverage from Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Elme Communities (NYSE:ELME) in a research note released on Monday morning, Marketbeat.com reports. The brokerage issued a peer perform rating on the stock.

A number of other research firms have also recently commented on ELME. Wells Fargo & Company increased their target price on Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. increased their target price on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

Elme Communities Stock Up 0.1 %

ELME opened at $17.44 on Monday. The stock has a market cap of $1.53 billion, a PE ratio of -28.12 and a beta of 0.90. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.61. Elme Communities has a 52 week low of $12.44 and a 52 week high of $18.49. The business’s fifty day simple moving average is $17.43 and its 200 day simple moving average is $16.32.

Elme Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.13%. Elme Communities’s dividend payout ratio (DPR) is currently -116.13%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its holdings in shares of Elme Communities by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 44,300 shares of the company’s stock worth $706,000 after purchasing an additional 800 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Elme Communities by 6.8% during the second quarter. Van ECK Associates Corp now owns 13,465 shares of the company’s stock worth $214,000 after purchasing an additional 858 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Elme Communities by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after purchasing an additional 885 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Elme Communities by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 76,870 shares of the company’s stock worth $1,070,000 after purchasing an additional 1,028 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Elme Communities by 162.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after purchasing an additional 1,100 shares during the period. 87.88% of the stock is owned by institutional investors.

Elme Communities Company 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.