Susquehanna Fundamental Investments LLC Invests $2.42 Million in Elme Communities (NYSE:ELME)

Susquehanna Fundamental Investments LLC bought a new stake in shares of Elme Communities (NYSE:ELME) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 158,642 shares of the company’s stock, valued at approximately $2,422,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hunter Perkins Capital Management LLC lifted its stake in Elme Communities by 3.9% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock valued at $354,000 after buying an additional 875 shares in the last quarter. M&T Bank Corp lifted its position in shares of Elme Communities by 10.1% in the 4th quarter. M&T Bank Corp now owns 12,691 shares of the company’s stock valued at $194,000 after acquiring an additional 1,166 shares in the last quarter. American Century Companies Inc. boosted its stake in 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 during the period. Van ECK Associates Corp boosted its stake in Elme Communities by 10.2% in the 4th 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 period. Finally, Sterling Capital Management LLC grew its position in 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 purchasing an additional 2,511 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Trading Down 1.5 %

Elme Communities stock opened at $15.41 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.49. The company’s fifty day simple moving average is $16.44 and its 200-day simple moving average is $16.15. The stock has a market cap of $1.36 billion, a P/E ratio of -110.07 and a beta of 0.84.

Elme Communities (NYSE:ELME) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, sell-side analysts forecast that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.67%. The ex-dividend date was Wednesday, March 19th. Elme Communities’s payout ratio is presently -514.29%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ELME shares. Wells Fargo & Company raised 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 Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th.

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.