Sumitomo Mitsui Trust Group Inc. Sells 1,133 Shares of Elme Communities $ELME

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Elme Communities (NYSE:ELME) by 1.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 97,381 shares of the company’s stock after selling 1,133 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Elme Communities were worth $1,548,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ELME. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Elme Communities by 119.3% during 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 acquiring an additional 1,337,974 shares in the last quarter. Nuveen LLC bought a new position in shares of Elme Communities during the 1st quarter worth approximately $16,613,000. Deutsche Bank AG raised its stake in shares of Elme Communities by 230.0% during the 1st quarter. Deutsche Bank AG now owns 381,185 shares of the company’s stock worth $6,633,000 after acquiring an additional 265,681 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Elme Communities during the 2nd quarter worth approximately $3,574,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Elme Communities by 1,301.1% during the 1st quarter. Russell Investments Group Ltd. now owns 225,520 shares of the company’s stock worth $3,924,000 after acquiring an additional 209,424 shares in the last quarter. Institutional investors own 87.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ELME shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Elme Communities in a research note on Wednesday, October 8th. Truist Financial reissued a “hold” rating on shares of Elme Communities in a research report on Thursday, September 11th. JPMorgan Chase & Co. dropped their target price on shares of Elme Communities from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 21st. Finally, Wall Street Zen downgraded shares of Elme Communities from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Elme Communities Stock Up 0.1%

ELME stock opened at $16.45 on Friday. The firm’s fifty day simple moving average is $16.87 and its 200-day simple moving average is $16.32. The company has a market capitalization of $1.45 billion, a P/E ratio of -10.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.54 and a quick ratio of 0.51. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.08.

Elme Communities (NYSE:ELME) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $62.10 million during the quarter, compared to analysts’ expectations of $62.17 million. Elme Communities had a negative net margin of 54.57% and a negative return on equity of 13.15%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.23 earnings per share. As a group, equities research analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The firm 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 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Wednesday, September 17th. Elme Communities’s dividend payout ratio is -47.37%.

About Elme Communities

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.