Centiva Capital LP Invests $826,000 in Elme Communities (NYSE:ELME)

Centiva Capital LP acquired a new position in shares of Elme Communities (NYSE:ELME) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 46,968 shares of the company’s stock, valued at approximately $826,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Archer Investment Corp boosted its holdings in Elme Communities by 308.2% in the second quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock valued at $28,000 after purchasing an additional 1,350 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Elme Communities by 438.1% in the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock valued at $29,000 after purchasing an additional 1,494 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Elme Communities by 149.2% in the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $46,000 after purchasing an additional 1,725 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Elme Communities by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock valued at $60,000 after purchasing an additional 885 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Elme Communities by 51.8% in the third quarter. KBC Group NV now owns 4,526 shares of the company’s stock valued at $80,000 after purchasing an additional 1,544 shares in the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.

Elme Communities Price Performance

Shares of NYSE ELME opened at $16.72 on Friday. 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 has a twelve month low of $12.74 and a twelve month high of $18.49. The stock has a 50 day moving average of $16.87 and a two-hundred day moving average of $16.64. The stock has a market cap of $1.47 billion, a P/E ratio of -111.46 and a beta of 0.89.

Elme Communities (NYSE:ELME) last issued its quarterly earnings data 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). Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.17%. The firm had revenue of $61.06 million during the quarter, compared to analysts’ expectations of $60.31 million. During the same quarter in the prior year, the firm posted $0.24 EPS. Elme Communities’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 19th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Thursday, December 19th. Elme Communities’s dividend payout ratio (DPR) is presently -479.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ELME shares. Wolfe Research started coverage on Elme Communities in a report on Monday, October 21st. They issued a “peer perform” rating for the company. Wells Fargo & Company upped their price target on Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

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.