Connor Clark & Lunn Investment Management Ltd. Sells 2,157 Shares of Elme Communities (NYSE:ELME)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Elme Communities (NYSE:ELME) by 3.9% in the 4th quarter, HoldingsChannel reports. The firm owned 53,287 shares of the company’s stock after selling 2,157 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Elme Communities were worth $814,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. FMR LLC raised its stake in shares of Elme Communities by 3.1% during the third quarter. FMR LLC now owns 5,637,288 shares of the company’s stock worth $99,160,000 after acquiring an additional 171,486 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Elme Communities by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,234,902 shares of the company’s stock worth $39,319,000 after acquiring an additional 12,999 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Elme Communities by 0.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,143,320 shares of the company’s stock worth $32,321,000 after acquiring an additional 18,965 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Elme Communities by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,730,227 shares of the company’s stock worth $26,421,000 after acquiring an additional 11,015 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Elme Communities by 8.2% during the fourth quarter. Bank of New York Mellon Corp now owns 760,381 shares of the company’s stock worth $11,611,000 after acquiring an additional 57,563 shares in the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. downgraded shares of Elme Communities from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $18.00 in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their target price on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th.

Elme Communities Stock Down 0.1 %

Shares of NYSE ELME opened at $17.08 on Friday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -121.96 and a beta of 0.86. The firm’s fifty day moving average is $16.16 and its 200 day moving average is $16.49. Elme Communities has a 52 week low of $13.30 and a 52 week high of $18.49. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65.

Elme Communities (NYSE:ELME) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. On average, equities research analysts expect that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.22%. The ex-dividend date is Wednesday, March 19th. Elme Communities’s dividend payout ratio (DPR) is currently -514.29%.

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.