Elme Communities (NYSE:ELME) Research Coverage Started at Wolfe Research

Wolfe Research assumed coverage on shares of Elme Communities (NYSE:ELME) in a research report report published on Monday morning, Marketbeat.com reports. The firm issued a peer perform rating on the stock.

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

Elme Communities Stock Performance

Shares of ELME stock opened at $17.41 on Monday. The stock has a market cap of $1.53 billion, a P/E ratio of -28.54 and a beta of 0.90. The company has a fifty day moving average price of $17.42 and a two-hundred day moving average price of $16.31. Elme Communities has a one year low of $12.44 and a one year high of $18.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.55 and a quick ratio of 0.55.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.72 annualized dividend and a yield of 4.14%. Elme Communities’s payout ratio is currently -118.03%.

Institutional Investors Weigh In On Elme Communities

A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in Elme Communities by 9.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,995 shares of the company’s stock valued at $190,000 after buying an additional 1,110 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Elme Communities by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,186,343 shares of the company’s stock valued at $30,434,000 after purchasing an additional 28,717 shares during the period. Daiwa Securities Group Inc. raised its holdings in Elme Communities by 7.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 28,654 shares of the company’s stock worth $399,000 after purchasing an additional 1,909 shares during the period. Texas Permanent School Fund Corp boosted its holdings in Elme Communities by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 76,870 shares of the company’s stock worth $1,070,000 after buying an additional 1,028 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Elme Communities in the 1st quarter worth $1,770,000. 87.88% of the stock is owned by hedge funds and other 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.