Penserra Capital Management LLC Decreases Stake in Elme Communities (NYSE:ELME)

Penserra Capital Management LLC reduced its holdings in shares of Elme Communities (NYSE:ELME) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 38,701 shares of the company’s stock after selling 1,018 shares during the period. Penserra Capital Management LLC’s holdings in Elme Communities were worth $680,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ELME. Allspring Global Investments Holdings LLC increased its holdings in shares of Elme Communities by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,124,355 shares of the company’s stock valued at $37,367,000 after acquiring an additional 20,555 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Elme Communities by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,719,212 shares of the company’s stock worth $30,241,000 after buying an additional 53,505 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Elme Communities by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,259,876 shares of the company’s stock worth $20,069,000 after acquiring an additional 17,387 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Elme Communities by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company’s stock worth $16,508,000 after acquiring an additional 69,014 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Elme Communities by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 811,421 shares of the company’s stock worth $12,926,000 after acquiring an additional 11,802 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Stock Up 1.6 %

NYSE ELME opened at $16.95 on Thursday. Elme Communities has a 12 month low of $12.74 and a 12 month high of $18.49. The company has a market capitalization of $1.49 billion, a P/E ratio of -112.99 and a beta of 0.89. The company’s 50 day simple moving average is $17.04 and its 200 day simple moving average is $16.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55.

Elme Communities (NYSE:ELME) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The company had revenue of $61.06 million during the quarter, compared to the consensus estimate of $60.31 million. During the same period in the prior year, the company posted $0.24 EPS. Elme Communities’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 19th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.25%. Elme Communities’s dividend payout ratio (DPR) is -479.97%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ELME. JPMorgan Chase & Co. lifted their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company upped their target price on Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Finally, Wolfe Research assumed coverage on Elme Communities in a research report on Monday, October 21st. They set a “peer perform” rating on the stock.

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.