VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.57 Million in Elme Communities $ELME

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Elme Communities (NYSE:ELME) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 224,800 shares of the company’s stock, valued at approximately $3,574,000.

Other large investors have also recently made changes to their positions in the company. Cbre Investment Management Listed Real Assets LLC raised its position in shares of Elme Communities by 119.3% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,459,062 shares of the company’s stock worth $42,788,000 after acquiring an additional 1,337,974 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in Elme Communities during the 1st quarter valued at about $924,000. Hunter Perkins Capital Management LLC increased its position in Elme Communities by 173.1% during the 1st quarter. Hunter Perkins Capital Management LLC now owns 63,410 shares of the company’s stock valued at $1,103,000 after buying an additional 40,195 shares in the last quarter. New York State Common Retirement Fund increased its position in Elme Communities by 91.1% during the 1st quarter. New York State Common Retirement Fund now owns 55,311 shares of the company’s stock valued at $962,000 after buying an additional 26,369 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Elme Communities by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 438,383 shares of the company’s stock valued at $7,628,000 after buying an additional 11,581 shares in the last quarter. 87.88% of the stock is owned by institutional investors.

Elme Communities Stock Up 0.5%

Shares of ELME stock opened at $16.83 on Tuesday. The stock’s 50-day simple moving average is $16.87 and its 200-day simple moving average is $16.23. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $1.48 billion, a PE ratio of -112.16 and a beta of 1.01. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.08.

Elme Communities (NYSE:ELME) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $62.10 million for the quarter, compared to analyst estimates of $61.63 million. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 earnings per share. Equities analysts expect that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Wednesday, September 17th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.3%. Elme Communities’s dividend payout ratio is currently -480.00%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial reaffirmed a “hold” rating on shares of Elme Communities in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Elme Communities in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered Elme Communities from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.50.

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.