Elme Communities (NYSE:ELME) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in shares of Elme Communities (NYSE:ELME) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,163,157 shares of the company’s stock after selling 112,691 shares during the quarter. Vanguard Group Inc. owned approximately 16.12% of Elme Communities worth $206,782,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ELME. GAMMA Investing LLC bought a new position in Elme Communities during the 4th quarter worth $25,000. Tower Research Capital LLC TRC boosted its position in Elme Communities by 116.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,117 shares of the company’s stock worth $60,000 after acquiring an additional 2,218 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Elme Communities in the third quarter worth $145,000. PNC Financial Services Group Inc. grew its position in Elme Communities by 36.3% in the third quarter. PNC Financial Services Group Inc. now owns 11,885 shares of the company’s stock worth $162,000 after acquiring an additional 3,165 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Elme Communities by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 12,318 shares of the company’s stock valued at $180,000 after acquiring an additional 2,025 shares in the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Elme Communities Trading Up 0.5 %

NYSE:ELME opened at $15.68 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -25.70 and a beta of 0.89. The business’s 50-day moving average price is $15.51 and its two-hundred day moving average price is $14.62. Elme Communities has a 1-year low of $12.44 and a 1-year high of $17.19.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Thursday, June 20th. Elme Communities’s dividend payout ratio (DPR) is presently -118.03%.

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.