56,585 Shares in Elme Communities (NYSE:ELME) Acquired by Vanderbilt University

Vanderbilt University acquired a new position in shares of Elme Communities (NYSE:ELME) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 56,585 shares of the company’s stock, valued at approximately $985,000.

Several other large investors have also recently modified their holdings of ELME. Sterling Capital Management LLC raised its stake in shares of Elme Communities by 817.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,818 shares of the company’s stock worth $43,000 after acquiring an additional 2,511 shares in the last quarter. Metis Global Partners LLC bought a new position in shares of Elme Communities during the 4th quarter worth approximately $154,000. NewEdge Advisors LLC raised its stake in shares of Elme Communities by 6,041.7% during the 4th quarter. NewEdge Advisors LLC now owns 10,748 shares of the company’s stock worth $164,000 after acquiring an additional 10,573 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of Elme Communities during the 4th quarter worth approximately $171,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Elme Communities during the 4th quarter worth approximately $180,000. Institutional investors own 87.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upped their price target on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th.

Elme Communities Trading Down 0.2%

Shares of Elme Communities stock opened at $15.93 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. Elme Communities has a 12-month low of $13.95 and a 12-month high of $18.49. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -106.17 and a beta of 0.98. The firm’s 50 day simple moving average is $15.87 and its two-hundred day simple moving average is $15.95.

Elme Communities (NYSE:ELME) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Elme Communities had a negative net margin of 5.79% and a negative return on equity of 1.30%. The business had revenue of $61.49 million for the quarter, compared to analyst estimates of $61.31 million. During the same quarter in the prior year, the business posted $0.23 EPS. Elme Communities’s revenue for the quarter was up 3.3% compared to the same quarter last year. 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, July 3rd. Stockholders of record on Tuesday, June 17th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.52%. Elme Communities’s payout ratio is currently -480.00%.

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.