William Blair Investment Management LLC Raises Stock Position in Elme Communities (NYSE:ELME)

William Blair Investment Management LLC lifted its stake in shares of Elme Communities (NYSE:ELME) by 2.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,934,863 shares of the company’s stock after acquiring an additional 46,755 shares during the quarter. William Blair Investment Management LLC’s holdings in Elme Communities were worth $29,545,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ELME. KBC Group NV lifted its position in shares of 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 buying an additional 1,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Elme Communities during the 3rd quarter worth approximately $86,000. Metis Global Partners LLC purchased a new stake in shares of Elme Communities during the 4th quarter worth approximately $154,000. Meridian Wealth Management LLC purchased a new stake in shares of Elme Communities during the 4th quarter worth approximately $171,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Elme Communities in the 4th quarter valued at $180,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Stock Performance

Shares of ELME opened at $17.16 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58. The stock has a market capitalization of $1.51 billion, a P/E ratio of -122.54 and a beta of 0.86. The company’s fifty day moving average is $16.01 and its two-hundred day moving average is $16.48. Elme Communities has a 1 year low of $12.81 and a 1 year high of $18.49.

Elme Communities (NYSE:ELME) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. On average, sell-side analysts predict that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 annualized dividend and a yield of 4.20%. Elme Communities’s dividend payout ratio is currently -514.29%.

Analyst Upgrades and Downgrades

ELME has been the topic of a number of recent research reports. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and cut their target price for the company from $19.00 to $18.00 in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their target price 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.

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.