KLP Kapitalforvaltning AS Boosts Holdings in Elme Communities $ELME

KLP Kapitalforvaltning AS grew its position in Elme Communities (NYSE:ELME) by 20.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,800 shares of the company’s stock after buying an additional 3,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Elme Communities were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Aberdeen Group plc boosted its position in shares of Elme Communities by 3.6% during the 1st quarter. Aberdeen Group plc now owns 23,774 shares of the company’s stock worth $414,000 after purchasing an additional 828 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of 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 purchasing an additional 1,164 shares during the period. SG Americas Securities LLC boosted its position in shares of Elme Communities by 5.3% during the 1st quarter. SG Americas Securities LLC now owns 23,573 shares of the company’s stock worth $410,000 after purchasing an additional 1,193 shares during the period. LDR Capital Management LLC boosted its position in shares of Elme Communities by 1.9% during the 2nd quarter. LDR Capital Management LLC now owns 80,207 shares of the company’s stock worth $1,275,000 after purchasing an additional 1,504 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Elme Communities by 1.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 126,981 shares of the company’s stock worth $2,019,000 after purchasing an additional 1,744 shares during the period. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Elme Communities Price Performance

Shares of ELME opened at $16.75 on Monday. Elme Communities has a twelve month low of $13.95 and a twelve month high of $18.08. The firm’s fifty day simple moving average is $16.87 and its 200-day simple moving average is $16.23. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -111.63 and a beta of 1.01. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.67.

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, beating 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 period last year, the business earned $0.23 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

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