LDR Capital Management LLC Has $1.28 Million Holdings in Elme Communities $ELME

LDR Capital Management LLC boosted its holdings in Elme Communities (NYSE:ELME) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,207 shares of the company’s stock after purchasing an additional 1,504 shares during the quarter. Elme Communities accounts for about 1.6% of LDR Capital Management LLC’s portfolio, making the stock its 20th largest holding. LDR Capital Management LLC owned approximately 0.09% of Elme Communities worth $1,275,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State of Wyoming acquired a new stake in shares of Elme Communities in the first quarter valued at approximately $66,000. Hughes Financial Services LLC bought a new position in Elme Communities during the 1st quarter worth $81,000. PNC Financial Services Group Inc. increased its stake in Elme Communities by 12.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,201 shares of the company’s stock worth $177,000 after acquiring an additional 1,164 shares during the period. Strs Ohio acquired a new position in Elme Communities in the 1st quarter valued at $287,000. Finally, Quantbot Technologies LP lifted its position in shares of Elme Communities by 188.5% during the 1st quarter. Quantbot Technologies LP now owns 19,000 shares of the company’s stock valued at $331,000 after acquiring an additional 12,414 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ELME shares. Weiss Ratings reissued a “hold (c)” rating on shares of Elme Communities in a report on Saturday, September 27th. Truist Financial reaffirmed a “hold” rating on shares of Elme Communities in a research report on Thursday, September 11th. Finally, Wall Street Zen lowered shares of Elme Communities from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Elme Communities currently has a consensus rating of “Hold” and an average price target of $18.50.

Elme Communities Trading Down 0.2%

Shares of ELME opened at $16.79 on Monday. 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 has a 52-week low of $13.95 and a 52-week high of $18.08. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -111.92 and a beta of 1.01. The business’s fifty day moving average is $16.70 and its 200-day moving average is $16.26.

Elme Communities (NYSE:ELME) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $62.10 million during the quarter, compared to the consensus estimate of $61.63 million. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.Elme Communities’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. Equities analysts anticipate that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

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

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.