Elme Communities (NYSE:ELME) Sees Large Growth in Short Interest

Elme Communities (NYSE:ELME) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,700,000 shares, an increase of 70.0% from the March 31st total of 1,000,000 shares. Based on an average daily volume of 735,200 shares, the days-to-cover ratio is currently 2.3 days. Approximately 2.0% of the company’s stock are sold short.

Elme Communities Stock Performance

Shares of ELME opened at $15.03 on Friday. The company’s fifty day moving average is $13.85 and its 200-day moving average is $13.93. Elme Communities has a 12 month low of $12.44 and a 12 month high of $17.87. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -24.64 and a beta of 0.91. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.59.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 20th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Tuesday, March 19th. Elme Communities’s dividend payout ratio is currently -118.03%.

Institutional Trading of Elme Communities

Large investors have recently modified their holdings of the company. Illinois Municipal Retirement Fund bought a new stake in shares of Elme Communities during the 3rd quarter worth $682,000. Employees Retirement System of Texas bought a new stake in Elme Communities in the 3rd quarter valued at $1,228,000. Handelsbanken Fonder AB boosted its holdings in Elme Communities by 22.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 17,483 shares of the company’s stock valued at $238,000 after purchasing an additional 3,195 shares during the period. Bleakley Financial Group LLC boosted its holdings in Elme Communities by 29.1% in the 4th quarter. Bleakley Financial Group LLC now owns 34,925 shares of the company’s stock valued at $510,000 after purchasing an additional 7,882 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Elme Communities by 3.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 28,044 shares of the company’s stock valued at $383,000 after purchasing an additional 1,050 shares during the period. 87.88% of the stock is owned by institutional investors.

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.