Elme Communities (NYSE:ELME) Stock Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of Elme Communities (NYSE:ELME) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,103,800 shares of the company’s stock after selling 82,543 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Elme Communities were worth $33,514,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Thornburg Investment Management Inc. boosted its holdings in shares of Elme Communities by 4.2% in the 1st quarter. Thornburg Investment Management Inc. now owns 2,455,668 shares of the company’s stock valued at $34,183,000 after buying an additional 100,000 shares during the period. William Blair Investment Management LLC raised its position in shares of Elme Communities by 16.9% during the 1st quarter. William Blair Investment Management LLC now owns 1,950,033 shares of the company’s stock worth $27,144,000 after purchasing an additional 281,199 shares during the period. Centersquare Investment Management LLC boosted its holdings in shares of Elme Communities by 5.9% during the fourth quarter. Centersquare Investment Management LLC now owns 1,605,919 shares of the company’s stock valued at $23,446,000 after acquiring an additional 89,197 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Elme Communities by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,557,836 shares of the company’s stock valued at $22,744,000 after acquiring an additional 49,403 shares in the last quarter. Finally, V3 Capital Management L.P. bought a new stake in shares of Elme Communities during the 1st quarter worth about $13,738,000. Institutional investors and hedge funds own 87.88% of the company’s stock.

Elme Communities Price Performance

Shares of NYSE:ELME traded up $0.06 during trading hours on Tuesday, hitting $17.35. 63,920 shares of the company’s stock traded hands, compared to its average volume of 602,262. Elme Communities has a 52 week low of $12.44 and a 52 week high of $17.48. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -28.34 and a beta of 0.89. The company’s fifty day simple moving average is $16.30 and its two-hundred day simple moving average is $15.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.55.

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 given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, September 19th. Elme Communities’s dividend payout ratio (DPR) is presently -118.03%.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their price target on shares of Elme Communities from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, May 15th.

Elme Communities Profile

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.