Quest Partners LLC Grows Holdings in Elme Communities (NYSE:ELME)

Quest Partners LLC lifted its position in shares of Elme Communities (NYSE:ELME) by 49.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,078 shares of the company’s stock after acquiring an additional 25,106 shares during the quarter. Quest Partners LLC’s holdings in Elme Communities were worth $1,338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of Elme Communities by 162.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock valued at $27,000 after purchasing an additional 1,100 shares during the period. Archer Investment Corp increased its stake in Elme Communities by 308.2% during the 2nd quarter. Archer Investment Corp now owns 1,788 shares of the company’s stock worth $28,000 after buying an additional 1,350 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Elme Communities by 438.1% during the second quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock valued at $29,000 after acquiring an additional 1,494 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Elme Communities by 149.2% in the second quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after acquiring an additional 1,725 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Elme Communities by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after purchasing an additional 885 shares in the last quarter. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Performance

NYSE:ELME opened at $15.81 on Wednesday. The company’s 50-day moving average is $17.23 and its two-hundred day moving average is $16.58. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -105.40 and a beta of 0.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.55 and a quick ratio of 0.55. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49.

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 the consensus estimate of $0.24 by ($0.27). Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The business had revenue of $61.06 million during the quarter, compared to analysts’ expectations of $60.31 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 19th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.72 annualized dividend and a yield of 4.55%. Elme Communities’s dividend payout ratio (DPR) is presently -480.00%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ELME. Wells Fargo & Company lifted their target price on shares of Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Wolfe Research began coverage on shares of Elme Communities in a research note on Monday, October 21st. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research report 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.