Aberdeen Group plc Purchases 3,096 Shares of Elme Communities $ELME

Aberdeen Group plc raised its stake in Elme Communities (NYSE:ELME) by 13.0% in the 2nd quarter, HoldingsChannel reports. The fund 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 reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cbre Investment Management Listed Real Assets LLC increased 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 valued at $42,788,000 after acquiring an additional 1,337,974 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in Elme Communities in the 1st quarter valued at about $924,000. Hunter Perkins Capital Management LLC increased its position in Elme Communities by 173.1% in the 1st quarter. Hunter Perkins Capital Management LLC now owns 63,410 shares of the company’s stock valued at $1,103,000 after acquiring an additional 40,195 shares in the last quarter. New York State Common Retirement Fund increased its position in Elme Communities by 91.1% in the 1st quarter. New York State Common Retirement Fund now owns 55,311 shares of the company’s stock valued at $962,000 after acquiring an additional 26,369 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Elme Communities by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 438,383 shares of the company’s stock worth $7,628,000 after buying an additional 11,581 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Stock Performance

Shares of ELME opened at $16.75 on Friday. The firm’s 50 day moving average price is $16.87 and its two-hundred day moving average price is $16.23. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $1.48 billion, a P/E ratio of -111.63 and a beta of 1.01. Elme Communities has a twelve month low of $13.95 and a twelve month high of $18.08.

Elme Communities (NYSE:ELME) last announced 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 business had revenue of $62.10 million for the quarter, compared to analyst estimates of $61.63 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts forecast that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Wednesday, September 17th were given 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 is -480.00%.

Analyst Ratings Changes

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

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.