LDR Capital Management LLC Raises Stock Holdings in Elme Communities (NYSE:ELME)

LDR Capital Management LLC boosted its holdings in Elme Communities (NYSE:ELME) by 259.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,883 shares of the company’s stock after buying an additional 59,840 shares during the quarter. Elme Communities accounts for approximately 1.7% of LDR Capital Management LLC’s holdings, making the stock its 27th biggest position. LDR Capital Management LLC owned approximately 0.09% of Elme Communities worth $1,266,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ELME. FMR LLC increased its holdings in Elme Communities by 3.1% in the 3rd quarter. FMR LLC now owns 5,637,288 shares of the company’s stock worth $99,160,000 after acquiring an additional 171,486 shares in the last quarter. Geode Capital Management LLC raised its holdings in Elme Communities by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,234,902 shares of the company’s stock valued at $39,319,000 after buying an additional 12,999 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Elme Communities by 0.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,143,320 shares of the company’s stock worth $32,321,000 after purchasing an additional 18,965 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Elme Communities by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,212 shares of the company’s stock worth $30,241,000 after purchasing an additional 53,505 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Elme Communities by 466.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 654,403 shares of the company’s stock valued at $11,511,000 after buying an additional 538,857 shares during the period. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Trading Up 0.1 %

Shares of ELME stock opened at $17.11 on Friday. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49. The stock’s 50-day moving average is $15.30 and its 200 day moving average is $16.49. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65.

Elme Communities (NYSE:ELME) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. As a group, equities analysts anticipate that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Wednesday, March 19th. Elme Communities’s dividend payout ratio (DPR) is -514.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. lowered Elme Communities from an “overweight” rating to a “neutral” rating and cut their price target for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company raised their price target on Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday.

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.