Inspire Investing LLC Boosts Stake in Elme Communities (NYSE:ELME)

Inspire Investing LLC boosted its stake in Elme Communities (NYSE:ELME) by 13.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 26,536 shares of the company’s stock after acquiring an additional 3,117 shares during the quarter. Inspire Investing LLC’s holdings in Elme Communities were worth $405,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Jane Street Group LLC boosted its position in Elme Communities by 50.8% during the third quarter. Jane Street Group LLC now owns 169,361 shares of the company’s stock worth $2,979,000 after acquiring an additional 57,038 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Elme Communities in the 3rd quarter valued at about $975,000. Charles Schwab Investment Management Inc. grew its stake in shares of Elme Communities by 3.2% in 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 buying an additional 53,505 shares during the period. Barclays PLC increased its holdings in shares of Elme Communities by 64.9% during the 3rd quarter. Barclays PLC now owns 177,438 shares of the company’s stock worth $3,121,000 after buying an additional 69,835 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Elme Communities during the 3rd quarter valued at approximately $541,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Trading Down 0.1 %

ELME opened at $14.64 on Friday. The business’s 50-day simple moving average is $15.55 and its 200-day simple moving average is $16.57. The company has a market cap of $1.29 billion, a P/E ratio of -97.56 and a beta of 0.90. Elme Communities has a one year low of $12.74 and a one year high of $18.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.55 and a current ratio of 0.55.

Elme Communities (NYSE:ELME) last released its quarterly earnings data 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 analyst estimates of $60.31 million. During the same quarter in the prior year, the company earned $0.24 EPS. The business’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Thursday, December 19th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.92%. Elme Communities’s payout ratio is -479.97%.

Wall Street Analysts Forecast Growth

ELME has been the subject of several recent analyst reports. Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Wolfe Research started coverage on Elme Communities in a research report on Monday, October 21st. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $18.00 in a research report on Tuesday, December 17th.

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.