Y Intercept Hong Kong Ltd Makes New Investment in Elme Communities (NYSE:ELME)

Y Intercept Hong Kong Ltd acquired a new position in Elme Communities (NYSE:ELME) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 38,491 shares of the company’s stock, valued at approximately $588,000.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Elme Communities by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,416 shares of the company’s stock worth $60,000 after purchasing an additional 885 shares in the last quarter. KBC Group NV raised its holdings in Elme Communities by 51.8% in the third quarter. KBC Group NV now owns 4,526 shares of the company’s stock worth $80,000 after purchasing an additional 1,544 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Elme Communities in the third quarter worth $86,000. Entropy Technologies LP bought a new position in Elme Communities in the fourth quarter worth $197,000. Finally, M&T Bank Corp increased its holdings in shares of Elme Communities by 9.5% during the third quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock valued at $203,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 87.88% of the company’s stock.

Elme Communities Price Performance

Shares of NYSE:ELME opened at $17.39 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. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49. The company has a market capitalization of $1.53 billion, a PE ratio of -124.21 and a beta of 0.91. The business has a fifty day moving average price of $15.49 and a 200-day moving average price of $16.50.

Elme Communities (NYSE:ELME) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.23 EPS for the quarter, beating 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%. As a group, equities analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 19th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.14%. Elme Communities’s dividend payout ratio (DPR) is presently -514.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised 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. Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $19.00 to $18.00 in a report on Tuesday, December 17th.

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.