Quantbot Technologies LP Grows Stock Holdings in Elme Communities (NYSE:ELME)

Quantbot Technologies LP lifted its stake in shares of Elme Communities (NYSE:ELME) by 160.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 76,712 shares of the company’s stock after purchasing an additional 47,212 shares during the quarter. Quantbot Technologies LP’s holdings in Elme Communities were worth $1,349,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in Elme Communities by 162.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after purchasing an additional 1,100 shares during the last quarter. Archer Investment Corp increased its holdings in shares of Elme Communities by 308.2% during the 2nd quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock worth $28,000 after buying an additional 1,350 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Elme Communities by 438.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock valued at $29,000 after buying an additional 1,494 shares during the period. GAMMA Investing LLC grew its position in Elme Communities by 149.2% in the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after acquiring an additional 1,725 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Elme Communities by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after acquiring an additional 885 shares during the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.

Elme Communities Price Performance

ELME stock opened at $16.94 on Friday. The business’s fifty day moving average price is $16.98 and its 200 day moving average price is $16.62. Elme Communities has a 12-month low of $12.74 and a 12-month high of $18.49. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.49 billion, a PE ratio of -112.93 and a beta of 0.89.

Elme Communities (NYSE:ELME) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). The business had revenue of $61.06 million for the quarter, compared to analyst estimates of $60.31 million. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. On average, sell-side analysts anticipate that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be given a $0.18 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.72 annualized dividend and a yield of 4.25%. Elme Communities’s dividend payout ratio is presently -479.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ELME. Wells Fargo & Company upped their price target on Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. increased their target price on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Wolfe Research assumed coverage on shares of Elme Communities in a research note on Monday, October 21st. They issued a “peer perform” rating on the stock.

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.