Centiva Capital LP Decreases Holdings in Elme Communities (NYSE:ELME)

Centiva Capital LP reduced its stake in Elme Communities (NYSE:ELME) by 31.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,125 shares of the company’s stock after selling 14,843 shares during the quarter. Centiva Capital LP’s holdings in Elme Communities were worth $491,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ELME. Versor Investments LP bought a new stake in Elme Communities in the fourth quarter worth about $596,000. Barclays PLC increased its stake in shares of Elme Communities by 64.9% during the 3rd quarter. Barclays PLC now owns 177,438 shares of the company’s stock worth $3,121,000 after purchasing an additional 69,835 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Elme Communities by 97.0% in the 4th quarter. JPMorgan Chase & Co. now owns 814,233 shares of the company’s stock worth $12,433,000 after purchasing an additional 400,834 shares during the period. Centersquare Investment Management LLC lifted its stake in Elme Communities by 105.6% in the fourth quarter. Centersquare Investment Management LLC now owns 109,800 shares of the company’s stock valued at $1,677,000 after purchasing an additional 56,400 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Elme Communities by 0.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,143,320 shares of the company’s stock valued at $32,321,000 after purchasing an additional 18,965 shares during the period. Institutional investors own 87.88% of the company’s stock.

Analyst Upgrades and Downgrades

ELME has been the topic of several research reports. Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Wells Fargo & Company upped their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th.

Elme Communities Price Performance

Elme Communities stock opened at $15.99 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of -114.21 and a beta of 0.96. Elme Communities has a one year low of $13.95 and a one year high of $18.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55. The business has a fifty day moving average price of $16.22 and a 200-day moving average price of $16.09.

Elme Communities (NYSE:ELME) last posted its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. The business had revenue of $61.49 million during the quarter, compared to analyst estimates of $61.31 million. During the same quarter in the previous year, the firm earned $0.23 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Tuesday, June 17th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, June 17th. Elme Communities’s dividend payout ratio is presently -480.00%.

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.