Wolverine Asset Management LLC Reduces Holdings in Elme Communities (NYSE:ELME)

Wolverine Asset Management LLC trimmed its stake in Elme Communities (NYSE:ELME) by 41.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,632 shares of the company’s stock after selling 8,123 shares during the period. Wolverine Asset Management LLC’s holdings in Elme Communities were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its position in shares of Elme Communities by 12.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company’s stock valued at $177,000 after buying an additional 1,164 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Elme Communities by 5.3% in the 1st quarter. SG Americas Securities LLC now owns 23,573 shares of the company’s stock valued at $410,000 after buying an additional 1,193 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Elme Communities by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,043 shares of the company’s stock valued at $764,000 after buying an additional 1,710 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Elme Communities by 817.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,818 shares of the company’s stock valued at $43,000 after buying an additional 2,511 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Elme Communities by 5.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 61,118 shares of the company’s stock valued at $1,063,000 after buying an additional 3,177 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Elme Communities Trading Down 0.4%

NYSE ELME opened at $16.37 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s fifty day moving average price is $16.10 and its 200 day moving average price is $16.15. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -109.09 and a beta of 0.98. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.49.

Elme Communities (NYSE:ELME) last posted its earnings results on Tuesday, August 5th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Elme Communities had a negative net margin of 5.78% and a negative return on equity of 1.33%. The firm had revenue of $62.10 million for the quarter, compared to the consensus estimate of $61.63 million. During the same period last year, the firm posted $0.23 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Wednesday, September 17th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 17th. Elme Communities’s dividend payout ratio (DPR) is presently -480.00%.

About Elme Communities

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.