Thrivent Financial for Lutherans Cuts Stake in Elme Communities (NYSE:ELME)

Thrivent Financial for Lutherans lessened its holdings in Elme Communities (NYSE:ELME) by 1.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 68,027 shares of the company’s stock after selling 1,087 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Elme Communities were worth $1,039,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ELME. Jane Street Group LLC increased its stake in shares of Elme Communities by 50.8% during the third quarter. Jane Street Group LLC now owns 169,361 shares of the company’s stock valued at $2,979,000 after buying an additional 57,038 shares during the period. Versor Investments LP bought a new stake in Elme Communities in the fourth quarter valued at $596,000. Charles Schwab Investment Management Inc. increased its position in Elme Communities by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,719,212 shares of the company’s stock valued at $30,241,000 after purchasing an additional 53,505 shares during the period. Verition Fund Management LLC bought a new position in Elme Communities in the 3rd quarter worth $541,000. Finally, Barclays PLC lifted its position in shares of Elme Communities by 64.9% in the 3rd quarter. Barclays PLC now owns 177,438 shares of the company’s stock worth $3,121,000 after purchasing an additional 69,835 shares during the period. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

Elme Communities Stock Down 1.2 %

Shares of Elme Communities stock opened at $17.19 on Wednesday. The company has a 50-day simple moving average of $16.52 and a two-hundred day simple moving average of $16.44. Elme Communities has a 52-week low of $13.30 and a 52-week high of $18.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58. The stock has a market capitalization of $1.51 billion, a PE ratio of -122.76 and a beta of 0.86.

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

Elme Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.19%. Elme Communities’s dividend payout ratio is presently -514.29%.

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.