Anson Funds Management LP Has $1.98 Million Holdings in Elme Communities (NYSE:ELME)

Anson Funds Management LP lessened its position in shares of Elme Communities (NYSE:ELME) by 56.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 112,411 shares of the company’s stock after selling 143,000 shares during the quarter. Anson Funds Management LP’s holdings in Elme Communities were worth $1,977,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ELME. Archer Investment Corp grew its holdings 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 in the last quarter. Fifth Third Bancorp boosted its stake in Elme Communities by 438.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,835 shares of the company’s stock valued at $29,000 after buying an additional 1,494 shares in the last quarter. GAMMA Investing LLC boosted its stake in Elme Communities by 149.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $46,000 after buying an additional 1,725 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Elme Communities by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock valued at $60,000 after buying an additional 885 shares in the last quarter. Finally, KBC Group NV boosted its stake in Elme Communities by 51.8% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ELME. JPMorgan Chase & Co. boosted their price target on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wolfe Research began coverage on Elme Communities in a research note on Monday, October 21st. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company boosted their price target on Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th.

Elme Communities Trading Up 0.8 %

Shares of ELME opened at $16.72 on Friday. The stock has a fifty day moving average price of $16.87 and a two-hundred day moving average price of $16.64. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63. Elme Communities has a 52-week low of $12.74 and a 52-week high of $18.49.

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

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.31%. Elme Communities’s payout ratio is currently -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.