Hunter Perkins Capital Management LLC Sells 303,525 Shares of Elme Communities (NYSE:ELME)

Hunter Perkins Capital Management LLC cut its stake in Elme Communities (NYSE:ELME) by 93.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,340 shares of the company’s stock after selling 303,525 shares during the period. Hunter Perkins Capital Management LLC’s holdings in Elme Communities were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ELME. PNC Financial Services Group Inc. boosted its holdings in Elme Communities by 9.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,995 shares of the company’s stock worth $190,000 after purchasing an additional 1,110 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Elme Communities by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,186,343 shares of the company’s stock worth $30,434,000 after acquiring an additional 28,717 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Elme Communities by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 28,654 shares of the company’s stock worth $399,000 after acquiring an additional 1,909 shares in the last quarter. Texas Permanent School Fund Corp raised its position in Elme Communities by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 76,870 shares of the company’s stock worth $1,070,000 after acquiring an additional 1,028 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Elme Communities during the first quarter worth $1,770,000. 87.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ELME shares. JPMorgan Chase & Co. upped their price target on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company upped their price target 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.

Elme Communities Trading Up 1.7 %

NYSE:ELME traded up $0.28 during mid-day trading on Wednesday, hitting $17.05. 101,275 shares of the company’s stock were exchanged, compared to its average volume of 590,034. The company has a 50 day simple moving average of $17.41 and a 200-day simple moving average of $16.16. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. Elme Communities has a fifty-two week low of $12.44 and a fifty-two week high of $18.49. The firm has a market capitalization of $1.50 billion, a P/E ratio of -27.05 and a beta of 0.90.

Elme Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.22%. Elme Communities’s payout ratio is presently -116.13%.

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.