Pictet Asset Management Holding SA Has $445,000 Position in Elme Communities (NYSE:ELME)

Pictet Asset Management Holding SA grew its holdings in Elme Communities (NYSE:ELME) by 18.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,132 shares of the company’s stock after buying an additional 4,454 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Elme Communities were worth $445,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELME. Metis Global Partners LLC acquired a new position in Elme Communities in the fourth quarter worth about $154,000. Meridian Wealth Management LLC bought a new stake in shares of Elme Communities in the 4th quarter valued at approximately $171,000. Proficio Capital Partners LLC acquired a new position in shares of Elme Communities in the 4th quarter worth approximately $180,000. M&T Bank Corp lifted its position in shares of Elme Communities by 10.1% during the 4th quarter. M&T Bank Corp now owns 12,691 shares of the company’s stock worth $194,000 after buying an additional 1,166 shares during the period. Finally, Entropy Technologies LP acquired a new stake in Elme Communities in the 4th quarter valued at $197,000. 87.88% of the stock is owned by institutional investors.

Elme Communities Price Performance

Shares of ELME opened at $15.27 on Thursday. 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 has a twelve month low of $13.95 and a twelve month high of $18.49. The company has a 50 day moving average of $16.63 and a 200-day moving average of $16.33. The stock has a market capitalization of $1.34 billion, a P/E ratio of -109.07 and a beta of 0.84.

Elme Communities (NYSE:ELME) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate 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%. As a group, equities research analysts forecast that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Wednesday, March 19th. Elme Communities’s dividend payout ratio (DPR) is -514.29%.

Wall Street Analysts Forecast Growth

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

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.