Mitsubishi UFJ Trust & Banking Corp Cuts Holdings in Elme Communities (NYSE:ELME)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Elme Communities (NYSE:ELME) by 74.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,420 shares of the company’s stock after selling 219,089 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Elme Communities worth $1,167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. EntryPoint Capital LLC bought a new stake in shares of Elme Communities in the 4th quarter valued at about $286,000. KLP Kapitalforvaltning AS purchased a new stake in Elme Communities during the fourth quarter valued at approximately $253,000. American Century Companies Inc. boosted its stake in Elme Communities by 3.5% in the fourth quarter. American Century Companies Inc. now owns 35,202 shares of the company’s stock valued at $538,000 after acquiring an additional 1,193 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Elme Communities by 37.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,250 shares of the company’s stock worth $722,000 after purchasing an additional 12,979 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Elme Communities in the fourth quarter worth $371,000. Institutional investors own 87.88% of the company’s stock.

Elme Communities Price Performance

Shares of ELME opened at $17.19 on Wednesday. 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’s fifty day moving average price is $16.52 and its 200-day moving average price is $16.44. Elme Communities has a 1-year low of $13.30 and a 1-year high of $18.49. The firm has a market capitalization of $1.51 billion, a PE ratio of -122.76 and a beta of 0.86.

Elme Communities (NYSE:ELME) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share 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%. On average, equities research analysts predict that Elme Communities will post 0.94 EPS for the current year.

Elme Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 19th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, March 19th. Elme Communities’s dividend payout ratio is presently -514.29%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their price target on Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered Elme Communities from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $18.00 in a research note on Tuesday, December 17th.

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.