Elme Communities (NYSE:ELME) PT Raised to $19.00

Elme Communities (NYSE:ELME) had its price target increased by JPMorgan Chase & Co. from $17.00 to $19.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, Wells Fargo & Company increased their price objective on shares of Elme Communities from $14.00 to $17.00 and gave the company an equal weight rating in a research report on Friday, September 13th.

Elme Communities Stock Down 0.1 %

Shares of ELME opened at $17.92 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -29.38 and a beta of 0.90. Elme Communities has a 1 year low of $12.44 and a 1 year high of $18.49. The business’s 50 day simple moving average is $17.13 and its 200-day simple moving average is $15.66.

Elme Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, September 19th. Elme Communities’s dividend payout ratio (DPR) is -118.03%.

Institutional Trading of Elme Communities

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its position in Elme Communities by 162.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,777 shares of the company’s stock valued at $27,000 after acquiring an additional 1,100 shares during the last quarter. Archer Investment Corp boosted its stake in shares of 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 purchasing an additional 1,350 shares during the period. Fifth Third Bancorp grew its holdings 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 last quarter. GAMMA Investing LLC raised its position in Elme Communities by 149.2% in 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 period. Finally, Quadrature Capital Ltd bought a new stake in Elme Communities in the first quarter worth about $167,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

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.