Elme Communities $ELME Stock Position Raised by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its position in Elme Communities (NYSE:ELME) by 10.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,235 shares of the company’s stock after buying an additional 3,584 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Elme Communities were worth $661,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in Elme Communities by 22.3% in the fourth quarter. Wells Fargo & Company MN now owns 72,376 shares of the company’s stock valued at $1,105,000 after acquiring an additional 13,173 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Elme Communities by 3.8% during the 4th quarter. Invesco Ltd. now owns 656,910 shares of the company’s stock valued at $10,031,000 after purchasing an additional 23,829 shares in the last quarter. Sterling Capital Management LLC lifted its stake 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 purchasing an additional 2,511 shares during the last quarter. Barclays PLC boosted its holdings in Elme Communities by 5.0% in the fourth quarter. Barclays PLC now owns 186,366 shares of the company’s stock worth $2,846,000 after purchasing an additional 8,928 shares in the last quarter. Finally, Jump Financial LLC boosted its holdings in Elme Communities by 85.1% in the fourth quarter. Jump Financial LLC now owns 81,033 shares of the company’s stock worth $1,237,000 after purchasing an additional 37,252 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Price Performance

NYSE ELME opened at $16.69 on Monday. Elme Communities has a fifty-two week low of $13.95 and a fifty-two week high of $18.49. The stock’s 50-day moving average is $16.14 and its two-hundred day moving average is $16.19. The firm has a market cap of $1.47 billion, a P/E ratio of -111.26 and a beta of 0.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.51 and a quick ratio of 0.51.

Elme Communities (NYSE:ELME) last issued 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. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%. The business 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 business earned $0.23 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

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

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.