Public Sector Pension Investment Board Sells 6,900 Shares of Elme Communities (NYSE:ELME)

Public Sector Pension Investment Board trimmed its stake in Elme Communities (NYSE:ELME) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 186,743 shares of the company’s stock after selling 6,900 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Elme Communities worth $3,285,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ELME. EverSource Wealth Advisors LLC increased its stake 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 buying an additional 1,100 shares during the period. 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 acquiring an additional 1,350 shares during the last quarter. Fifth Third Bancorp increased its position in Elme Communities by 438.1% during the 2nd 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 during the period. GAMMA Investing LLC raised its holdings in Elme Communities by 149.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $46,000 after purchasing an additional 1,725 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Elme Communities by 35.0% in the 3rd 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 during the period. 87.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

ELME has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. 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, JPMorgan Chase & Co. upped their target price 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 Stock Down 1.8 %

Shares of NYSE ELME opened at $16.55 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.46 billion, a PE ratio of -110.33 and a beta of 0.89. The company’s fifty day simple moving average is $16.93 and its 200 day simple moving average is $16.63. Elme Communities has a 12-month low of $12.74 and a 12-month high of $18.49.

Elme Communities (NYSE:ELME) last issued its 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 analyst estimates of $60.31 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, December 19th. This represents a $0.72 dividend on an annualized basis and a yield of 4.35%. Elme Communities’s dividend payout ratio (DPR) is presently -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.