Elme Communities (NYSE:ELME) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. cut its stake in Elme Communities (NYSE:ELME) by 14.5% during the 4th quarter, HoldingsChannel reports. The fund owned 13,244 shares of the company’s stock after selling 2,250 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Elme Communities were worth $202,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in Elme Communities by 10.0% in the second quarter. American Century Companies Inc. now owns 29,681 shares of the company’s stock worth $473,000 after buying an additional 2,696 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Elme Communities by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,259,876 shares of the company’s stock worth $20,069,000 after acquiring an additional 17,387 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Elme Communities by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,036,308 shares of the company’s stock worth $16,508,000 after acquiring an additional 69,014 shares during the period. Hsbc Holdings PLC lifted its position in Elme Communities by 6.2% in the 2nd quarter. Hsbc Holdings PLC now owns 75,121 shares of the company’s stock valued at $1,194,000 after purchasing an additional 4,372 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Elme Communities by 6.2% during the second quarter. Public Sector Pension Investment Board now owns 193,643 shares of the company’s stock worth $3,085,000 after buying an additional 11,372 shares during the period. 87.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Elme Communities Stock Performance

Shares of ELME opened at $14.81 on Friday. Elme Communities has a fifty-two week low of $12.74 and a fifty-two week high of $18.49. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average is $15.77 and its 200-day moving average is $16.58.

Elme Communities (NYSE:ELME) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.03) 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 firm had revenue of $61.06 million during the quarter, compared to the consensus estimate of $60.31 million. During the same period in the previous year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Thursday, December 19th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date was Thursday, December 19th. Elme Communities’s dividend payout ratio is -479.97%.

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.