Cbre Investment Management Listed Real Assets LLC Lowers Stock Position in Elme Communities (NYSE:ELME)

Cbre Investment Management Listed Real Assets LLC lessened its holdings in shares of Elme Communities (NYSE:ELME) by 12.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,121,088 shares of the company’s stock after selling 152,987 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 1.27% of Elme Communities worth $17,119,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ELME. Jane Street Group LLC raised its stake in shares of Elme Communities by 50.8% during the third quarter. Jane Street Group LLC now owns 169,361 shares of the company’s stock worth $2,979,000 after acquiring an additional 57,038 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Elme Communities during the 3rd quarter valued at $975,000. Charles Schwab Investment Management Inc. boosted its stake in Elme Communities by 3.2% in the 3rd 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 in the last quarter. Verition Fund Management LLC bought a new position in Elme Communities during the 3rd quarter valued at about $541,000. Finally, Barclays PLC increased its position in shares of Elme Communities by 64.9% during the 3rd quarter. Barclays PLC now owns 177,438 shares of the company’s stock valued at $3,121,000 after purchasing an additional 69,835 shares during the last quarter. Institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Down 1.1 %

NYSE ELME opened at $17.19 on Wednesday. The business has a fifty day moving average price of $15.54 and a 200 day moving average price of $16.49. Elme Communities has a one year low of $12.77 and a one year high of $18.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58. The company has a market cap of $1.51 billion, a P/E ratio of -122.75 and a beta of 0.91.

Elme Communities (NYSE:ELME) last announced its earnings results on Thursday, February 13th. The company reported $0.23 EPS 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%. Research analysts anticipate that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Wednesday, March 19th. Elme Communities’s dividend payout ratio (DPR) is presently -514.29%.

Analysts Set New Price Targets

ELME has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $18.00 in a research report on Tuesday, December 17th. Finally, Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th.

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.