Verdence Capital Advisors LLC Grows Stock Position in Elme Communities (NYSE:ELME)

Verdence Capital Advisors LLC grew its position in shares of Elme Communities (NYSE:ELME) by 5.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,058 shares of the company’s stock after purchasing an additional 867 shares during the period. Verdence Capital Advisors LLC’s holdings in Elme Communities were worth $282,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ELME. EverSource Wealth Advisors LLC increased its position in shares of Elme Communities by 162.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after acquiring an additional 1,100 shares during the last quarter. Archer Investment Corp raised its position in shares of Elme Communities by 308.2% in the 2nd quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock valued at $28,000 after purchasing an additional 1,350 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Elme Communities by 438.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock valued at $29,000 after buying an additional 1,494 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Elme Communities by 149.2% during the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after buying an additional 1,725 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Elme Communities by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after buying an additional 885 shares during the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.

Elme Communities Trading Down 1.9 %

Shares of NYSE ELME opened at $17.23 on Wednesday. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -114.87 and a beta of 0.89. The stock’s 50 day simple moving average is $17.36 and its 200 day simple moving average is $16.54. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63. Elme Communities has a 12-month low of $12.74 and a 12-month high of $18.49.

Elme Communities (NYSE:ELME) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). The firm had revenue of $61.06 million for the quarter, compared to analyst estimates of $60.31 million. Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. Equities research analysts expect 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 Monday, January 6th. Investors of record on Thursday, December 19th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Thursday, December 19th. Elme Communities’s dividend payout ratio (DPR) is -480.00%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. JPMorgan Chase & Co. lifted their price target on Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Wolfe Research assumed coverage on Elme Communities in a research note on Monday, October 21st. They set a “peer perform” rating on the stock.

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.