LDR Capital Management LLC Increases Stake in Elme Communities (NYSE:ELME)

LDR Capital Management LLC boosted its stake in shares of Elme Communities (NYSE:ELME) by 259.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,883 shares of the company’s stock after acquiring an additional 59,840 shares during the quarter. Elme Communities accounts for 1.7% of LDR Capital Management LLC’s holdings, making the stock its 27th largest position. LDR Capital Management LLC’s holdings in Elme Communities were worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of ELME. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Elme Communities by 466.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 654,403 shares of the company’s stock valued at $11,511,000 after acquiring an additional 538,857 shares in the last quarter. FMR LLC increased its position in shares of Elme Communities by 3.1% in the third quarter. FMR LLC now owns 5,637,288 shares of the company’s stock valued at $99,160,000 after buying an additional 171,486 shares in the last quarter. Martingale Asset Management L P purchased a new stake in shares of Elme Communities in the third quarter valued at approximately $1,535,000. Barclays PLC increased its position in shares of Elme Communities by 64.9% in the third quarter. Barclays PLC now owns 177,438 shares of the company’s stock valued at $3,121,000 after buying an additional 69,835 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Elme Communities by 50.8% in the third quarter. Jane Street Group LLC now owns 169,361 shares of the company’s stock valued at $2,979,000 after buying an additional 57,038 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Stock Performance

NYSE ELME opened at $17.11 on Friday. The stock’s fifty day moving average is $15.30 and its two-hundred day moving average is $16.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55. Elme Communities has a fifty-two week low of $12.74 and a fifty-two week high of $18.49.

Elme Communities (NYSE:ELME) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.23 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%. Equities analysts forecast that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.21%. Elme Communities’s dividend payout ratio is presently -514.29%.

Analysts Set New Price Targets

ELME has been the subject of a number of recent analyst reports. Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company boosted their price objective on Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered Elme Communities from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $19.00 to $18.00 in a research note on Tuesday, December 17th.

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.