Hunter Perkins Capital Management LLC Buys 875 Shares of Elme Communities (NYSE:ELME)

Hunter Perkins Capital Management LLC boosted its stake in Elme Communities (NYSE:ELME) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 23,215 shares of the company’s stock after purchasing an additional 875 shares during the period. Hunter Perkins Capital Management LLC’s holdings in Elme Communities were worth $354,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC raised its holdings in shares of Elme Communities by 5.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company’s stock worth $282,000 after purchasing an additional 867 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Elme Communities by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock valued at $60,000 after buying an additional 885 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Elme Communities by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company’s stock worth $2,239,000 after acquiring an additional 954 shares during the period. M&T Bank Corp grew its stake in shares of Elme Communities by 9.5% during the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after acquiring an additional 1,000 shares during the period. Finally, Inspire Investing LLC raised its stake in Elme Communities by 5.9% in the 3rd quarter. Inspire Investing LLC now owns 23,419 shares of the company’s stock valued at $412,000 after acquiring an additional 1,300 shares during the period. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ELME. Wolfe Research started coverage on shares of Elme Communities in a research report on Monday, October 21st. They set a “peer perform” rating for the company. JPMorgan Chase & Co. downgraded shares of Elme Communities from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $19.00 to $18.00 in a report on Tuesday, December 17th. Finally, Truist Financial upgraded shares of Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th.

Elme Communities Stock Down 0.1 %

ELME stock opened at $14.64 on Monday. The stock has a 50-day simple moving average of $15.55 and a two-hundred day simple moving average of $16.57. Elme Communities has a twelve month low of $12.74 and a twelve month high of $18.49. The firm has a market capitalization of $1.29 billion, a PE ratio of -97.56 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 0.63.

Elme Communities (NYSE:ELME) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.27). Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The firm had revenue of $61.06 million for the quarter, compared to analysts’ expectations of $60.31 million. During the same period in the prior year, the firm posted $0.24 EPS. Elme Communities’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts predict that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Thursday, December 19th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.92%. 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.