Thrivent Financial for Lutherans Sells 3,942 Shares of Elme Communities (NYSE:ELME)

Thrivent Financial for Lutherans decreased its holdings in Elme Communities (NYSE:ELME) by 5.4% in the third quarter, Holdings Channel reports. The fund owned 69,114 shares of the company’s stock after selling 3,942 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Elme Communities were worth $1,216,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its position in Elme Communities by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 44,300 shares of the company’s stock valued at $706,000 after purchasing an additional 800 shares during the period. Van ECK Associates Corp increased its position in shares of Elme Communities by 6.8% during the 2nd quarter. Van ECK Associates Corp now owns 13,465 shares of the company’s stock valued at $214,000 after purchasing an additional 858 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Elme Communities by 5.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company’s stock valued at $282,000 after buying an additional 867 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Elme Communities by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after buying an additional 885 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Elme Communities by 162.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock worth $27,000 after buying an additional 1,100 shares during the period. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Elme Communities Trading Down 0.1 %

Shares of ELME opened at $16.94 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -112.93 and a beta of 0.89. The company has a 50-day moving average of $16.98 and a 200 day moving average of $16.62. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49.

Elme Communities (NYSE:ELME) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $61.06 million during the quarter, compared to analysts’ expectations of $60.31 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts expect that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 19th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.25%. Elme Communities’s dividend payout ratio is currently -479.97%.

Elme Communities Company 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.