Elme Communities $ELME Holdings Raised by Aberdeen Group plc

Aberdeen Group plc boosted its stake in Elme Communities (NYSE:ELME) by 13.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,870 shares of the company’s stock after buying an additional 3,096 shares during the quarter. Aberdeen Group plc’s holdings in Elme Communities were worth $427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELME. Cbre Investment Management Listed Real Assets LLC lifted its position in Elme Communities by 119.3% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,459,062 shares of the company’s stock worth $42,788,000 after buying an additional 1,337,974 shares in the last quarter. Nuveen LLC purchased a new stake in Elme Communities in the 1st quarter worth approximately $16,613,000. Deutsche Bank AG lifted its position in Elme Communities by 230.0% in the 1st quarter. Deutsche Bank AG now owns 381,185 shares of the company’s stock worth $6,633,000 after buying an additional 265,681 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Elme Communities by 1,301.1% in the 1st quarter. Russell Investments Group Ltd. now owns 225,520 shares of the company’s stock worth $3,924,000 after buying an additional 209,424 shares in the last quarter. Finally, Phocas Financial Corp. purchased a new stake in Elme Communities in the 1st quarter worth approximately $3,269,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ELME shares. Truist Financial restated a “hold” rating on shares of Elme Communities in a research note on Thursday, September 11th. Wall Street Zen lowered shares of Elme Communities from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Elme Communities in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.50.

Elme Communities Price Performance

NYSE:ELME opened at $16.75 on Friday. The company has a 50-day moving average of $16.87 and a 200-day moving average of $16.23. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -111.63 and a beta of 1.01. Elme Communities has a 52 week low of $13.95 and a 52 week high of $18.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.51 and a current ratio of 0.51.

Elme Communities (NYSE:ELME) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.24 EPS for the quarter, topping 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 company had revenue of $62.10 million during the quarter, compared to the consensus estimate of $61.63 million. During the same period last year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Wednesday, September 17th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Wednesday, September 17th. Elme Communities’s dividend payout ratio (DPR) is currently -480.00%.

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.