Fox Run Management L.L.C. Sells 1,182 Shares of Elme Communities (NYSE:ELME)

Fox Run Management L.L.C. decreased its holdings in shares of Elme Communities (NYSE:ELME) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 23,881 shares of the company’s stock after selling 1,182 shares during the period. Fox Run Management L.L.C.’s holdings in Elme Communities were worth $365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ELME. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Elme Communities by 466.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 654,403 shares of the company’s stock worth $11,511,000 after buying an additional 538,857 shares during the last quarter. FMR LLC boosted its stake in shares of Elme Communities by 3.1% during the 3rd 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. Martingale Asset Management L P acquired a new position in shares of Elme Communities during the 3rd quarter valued at about $1,535,000. Barclays PLC raised its stake in shares of Elme Communities by 64.9% in the 3rd quarter. Barclays PLC now owns 177,438 shares of the company’s stock valued at $3,121,000 after acquiring an additional 69,835 shares in the last quarter. Finally, LDR Capital Management LLC lifted its holdings in Elme Communities by 259.7% in the 4th quarter. LDR Capital Management LLC now owns 82,883 shares of the company’s stock worth $1,266,000 after purchasing an additional 59,840 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ELME. JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $18.00 in a report on Tuesday, December 17th. Truist Financial upgraded shares of Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company upped their price target on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th.

Elme Communities Trading Up 1.0 %

Shares of Elme Communities stock opened at $17.35 on Thursday. Elme Communities has a 1 year low of $13.30 and a 1 year high of $18.49. The company’s fifty day simple moving average is $16.32 and its 200-day simple moving average is $16.47. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -123.89 and a beta of 0.86. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65.

Elme Communities (NYSE:ELME) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be given a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.15%. Elme Communities’s dividend payout ratio is currently -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.