Versor Investments LP Invests $596,000 in Elme Communities (NYSE:ELME)

Versor Investments LP purchased a new stake in shares of Elme Communities (NYSE:ELME) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,000 shares of the company’s stock, valued at approximately $596,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 worth $60,000 after purchasing an additional 885 shares during the last quarter. KBC Group NV raised its stake in shares of Elme Communities by 51.8% during the third quarter. KBC Group NV now owns 4,526 shares of the company’s stock worth $80,000 after buying an additional 1,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Elme Communities in the third quarter valued at approximately $86,000. M&T Bank Corp boosted its stake in Elme Communities by 9.5% in the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock valued at $203,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Elme Communities in the fourth quarter valued at approximately $180,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Trading Down 0.3 %

Shares of NYSE ELME opened at $17.39 on Friday. Elme Communities has a twelve month low of $12.74 and a twelve month high of $18.49. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -124.21 and a beta of 0.91. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65. The company’s fifty day moving average is $15.49 and its 200-day moving average is $16.50.

Elme Communities (NYSE:ELME) last posted its earnings results on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate 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%. Equities research analysts predict that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.14%. Elme Communities’s dividend payout ratio is presently -514.29%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ELME. JPMorgan Chase & Co. downgraded 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. Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company raised their target price on Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th.

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.