Folger Nolan Fleming Douglas Capital Management Inc. Lowers Holdings in Elme Communities (NYSE:ELME)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its holdings in Elme Communities (NYSE:ELME) by 14.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,244 shares of the company’s stock after selling 2,250 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Elme Communities were worth $202,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ELME. Verdence Capital Advisors LLC raised its position in Elme Communities by 5.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 16,058 shares of the company’s stock valued at $282,000 after purchasing an additional 867 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased 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 worth $60,000 after buying an additional 885 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Elme Communities by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 127,260 shares of the company’s stock valued at $2,239,000 after acquiring an additional 954 shares in the last quarter. M&T Bank Corp lifted its stake in Elme Communities by 9.5% in the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in Elme Communities by 5.9% in the third quarter. Inspire Investing LLC now owns 23,419 shares of the company’s stock worth $412,000 after acquiring an additional 1,300 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wolfe Research initiated coverage on Elme Communities in a research report on Monday, October 21st. They set a “peer perform” rating for the company. Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. lowered shares of Elme Communities from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th.

Elme Communities Stock Up 0.5 %

Elme Communities stock opened at $14.81 on Friday. The stock has a 50 day moving average of $15.77 and a two-hundred day moving average of $16.58. Elme Communities has a twelve month low of $12.74 and a twelve month high of $18.49. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.63.

Elme Communities (NYSE:ELME) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.27). The firm had revenue of $61.06 million for the quarter, compared to analysts’ expectations of $60.31 million. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. As a group, research analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Thursday, December 19th were issued a $0.18 dividend. The ex-dividend date was Thursday, December 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.86%. Elme Communities’s dividend payout ratio 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.