Hunter Perkins Capital Management LLC Acquires 875 Shares of Elme Communities (NYSE:ELME)

Hunter Perkins Capital Management LLC grew its holdings in Elme Communities (NYSE:ELME) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,215 shares of the company’s stock after purchasing an additional 875 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in Elme Communities were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ELME. Jane Street Group LLC lifted its stake in Elme Communities by 50.8% in 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. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Elme Communities in the 3rd quarter valued at $975,000. Charles Schwab Investment Management Inc. lifted its position in shares of 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 acquiring an additional 53,505 shares during the period. Barclays PLC lifted its position in shares of Elme Communities by 64.9% during 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 during the period. Finally, Verition Fund Management LLC bought a new position in Elme Communities during the third quarter worth $541,000. Institutional investors own 87.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ELME shares. JPMorgan Chase & Co. lowered shares of Elme Communities from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $19.00 to $18.00 in a report on Tuesday, December 17th. Wolfe Research assumed coverage on Elme Communities in a research report on Monday, October 21st. They issued a “peer perform” rating for the company. Finally, Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th.

Elme Communities Stock Performance

ELME opened at $14.64 on Monday. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -97.56 and a beta of 0.90. The company’s fifty day moving average price is $15.55 and its two-hundred day moving average price is $16.57. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63.

Elme Communities (NYSE:ELME) last posted its earnings results on Monday, November 4th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.27). The business had revenue of $61.06 million during the quarter, compared to analyst estimates of $60.31 million. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. On average, analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Thursday, December 19th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, December 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.92%. Elme Communities’s payout ratio is -480.00%.

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.