Carret Asset Management LLC Reduces Stake in Elme Communities (NYSE:ELME)

Carret Asset Management LLC lowered its position in Elme Communities (NYSE:ELME) by 16.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,350 shares of the company’s stock after selling 4,115 shares during the period. Carret Asset Management LLC’s holdings in Elme Communities were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ELME. KBC Group NV boosted its position in Elme Communities by 51.8% in the third quarter. KBC Group NV now owns 4,526 shares of the company’s stock valued at $80,000 after buying an additional 1,544 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Elme Communities in the third quarter valued at approximately $86,000. Metis Global Partners LLC acquired a new position in Elme Communities in the fourth quarter valued at approximately $154,000. Meridian Wealth Management LLC acquired a new position in Elme Communities in the fourth quarter valued at approximately $171,000. Finally, Proficio Capital Partners LLC acquired a new position in Elme Communities in the fourth quarter valued at approximately $180,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Elme Communities Trading Up 2.0 %

Shares of ELME stock opened at $17.24 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.58 and a quick ratio of 0.55. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -123.11 and a beta of 0.86. The stock has a 50 day simple moving average of $15.86 and a 200-day simple moving average of $16.50. 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 earnings results on Thursday, February 13th. The company reported $0.23 earnings per share 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%. On average, equities research analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Wednesday, March 19th. Elme Communities’s payout ratio is -514.29%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ELME shares. JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $18.00 in a report on Tuesday, December 17th. Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company boosted their price target on 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.