Illinois Municipal Retirement Fund Has $733,000 Position in Elme Communities (NYSE:ELME)

Illinois Municipal Retirement Fund boosted its position in shares of Elme Communities (NYSE:ELME) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,031 shares of the company’s stock after buying an additional 2,911 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of Elme Communities worth $733,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $60,000 after acquiring an additional 885 shares during the period. KBC Group NV raised its holdings in Elme Communities by 51.8% during the 3rd quarter. KBC Group NV now owns 4,526 shares of the company’s stock worth $80,000 after purchasing an additional 1,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Elme Communities during the 3rd quarter valued at about $86,000. M&T Bank Corp boosted its stake in shares of Elme Communities by 9.5% in the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock valued at $203,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Elme Communities during the 3rd quarter worth approximately $211,000. 87.88% of the stock is currently owned by institutional investors.

Elme Communities Stock Performance

ELME opened at $17.39 on Tuesday. The firm’s fifty day moving average is $15.49 and its two-hundred day moving average is $16.49. The firm has a market cap of $1.53 billion, a PE ratio of -124.21 and a beta of 0.91. Elme Communities has a twelve month low of $12.75 and a twelve month high of $18.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58.

Elme Communities (NYSE:ELME) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. Equities research analysts anticipate that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Wednesday, March 19th. Elme Communities’s dividend payout ratio (DPR) is presently -514.29%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $18.00 in a research report on Tuesday, December 17th. Finally, Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th.

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.