Price T Rowe Associates Inc. MD Buys 6,582 Shares of Elme Communities (NYSE:ELME)

Price T Rowe Associates Inc. MD increased its position in Elme Communities (NYSE:ELME) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,379 shares of the company’s stock after purchasing an additional 6,582 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Elme Communities were worth $1,136,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ELME. Hunter Perkins Capital Management LLC lifted its stake in shares of Elme Communities by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock worth $354,000 after buying an additional 875 shares in the last quarter. M&T Bank Corp boosted its stake in Elme Communities by 10.1% during the 4th quarter. M&T Bank Corp now owns 12,691 shares of the company’s stock valued at $194,000 after purchasing an additional 1,166 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Elme Communities by 3.5% in the 4th quarter. American Century Companies Inc. now owns 35,202 shares of the company’s stock worth $538,000 after purchasing an additional 1,193 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Elme Communities by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 16,669 shares of the company’s stock worth $255,000 after purchasing an additional 1,544 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Elme Communities by 817.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,818 shares of the company’s stock valued at $43,000 after purchasing an additional 2,511 shares in the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Elme Communities Stock Down 0.1 %

Elme Communities stock opened at $15.99 on Friday. The stock has a market cap of $1.41 billion, a PE ratio of -114.21 and a beta of 0.96. 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 stock has a fifty day moving average of $16.22 and a 200 day moving average of $16.10. Elme Communities has a one year low of $13.95 and a one year high of $18.49.

Elme Communities (NYSE:ELME) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $61.49 million for the quarter, compared to analysts’ expectations of $61.31 million. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. As a group, sell-side analysts predict that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

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 given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Tuesday, June 17th. Elme Communities’s payout ratio is -480.00%.

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.