Elme Communities (NYSE:ELME) Hits New 1-Year High at $17.73

Elme Communities (NYSE:ELME)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.73 and last traded at $17.71, with a volume of 129466 shares trading hands. The stock had previously closed at $17.66.

Wall Street Analyst Weigh In

Separately, Truist Financial increased their target price on Elme Communities from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, May 15th.

Elme Communities Price Performance

The stock’s 50 day moving average is $16.66 and its two-hundred day moving average is $15.34. The stock has a market capitalization of $1.56 billion, a PE ratio of -28.97 and a beta of 0.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.55.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.07%. Elme Communities’s dividend payout ratio (DPR) is presently -118.03%.

Institutional Trading of Elme Communities

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in Elme Communities during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings 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 in the last quarter. Archer Investment Corp lifted its position in Elme Communities by 308.2% in the second quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock valued at $28,000 after acquiring an additional 1,350 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Elme Communities by 438.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock valued at $29,000 after purchasing an additional 1,494 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Elme Communities in the first quarter valued at approximately $167,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

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.