EntryPoint Capital LLC Takes Position in Elme Communities (NYSE:ELME)

EntryPoint Capital LLC acquired a new stake in Elme Communities (NYSE:ELME) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 18,712 shares of the company’s stock, valued at approximately $286,000.

Several other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Elme Communities during the third quarter worth about $86,000. Metis Global Partners LLC purchased a new stake in Elme Communities during the 4th quarter worth approximately $154,000. Meridian Wealth Management LLC acquired a new stake in Elme Communities during the 4th quarter worth approximately $171,000. Proficio Capital Partners LLC purchased a new position in Elme Communities in the 4th quarter valued at approximately $180,000. Finally, M&T Bank Corp grew its stake in shares of Elme Communities by 10.1% in the fourth quarter. M&T Bank Corp now owns 12,691 shares of the company’s stock worth $194,000 after acquiring an additional 1,166 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ELME. Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company boosted their price objective on Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $19.00 to $18.00 in a report on Tuesday, December 17th.

Elme Communities Stock Down 0.5 %

Elme Communities stock opened at $17.27 on Friday. The stock’s fifty day moving average is $16.37 and its two-hundred day moving average is $16.48. The stock has a market cap of $1.52 billion, a PE ratio of -123.33 and a beta of 0.86. Elme Communities has a 1-year low of $13.30 and a 1-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.

Elme Communities (NYSE:ELME) last posted its earnings results on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, topping 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%. On average, sell-side analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Wednesday, March 19th. Elme Communities’s dividend payout ratio (DPR) is -514.29%.

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.