Simplicity Wealth LLC Purchases New Shares in Elme Communities (NYSE:ELME)

Simplicity Wealth LLC acquired a new stake in shares of Elme Communities (NYSE:ELME) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 32,282 shares of the company’s stock, valued at approximately $449,000.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC bought a new position in Elme Communities during the fourth quarter valued at $25,000. Tower Research Capital LLC TRC grew its holdings in shares of Elme Communities by 116.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,117 shares of the company’s stock worth $60,000 after purchasing an additional 2,218 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Elme Communities in the third quarter worth about $145,000. PNC Financial Services Group Inc. grew its holdings in shares of Elme Communities by 36.3% in the third quarter. PNC Financial Services Group Inc. now owns 11,885 shares of the company’s stock worth $162,000 after purchasing an additional 3,165 shares during the last quarter. Finally, Caxton Associates LP bought a new position in shares of Elme Communities in the third quarter worth about $166,000. Institutional investors own 87.88% of the company’s stock.

Analyst Ratings Changes

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

Elme Communities Stock Down 0.3 %

Shares of ELME stock traded down $0.05 during mid-day trading on Wednesday, hitting $16.25. 428,763 shares of the stock traded hands, compared to its average volume of 683,326. The stock has a market cap of $1.43 billion, a P/E ratio of -26.64 and a beta of 0.87. The stock’s fifty day moving average is $14.72 and its two-hundred day moving average is $14.20. Elme Communities has a 52-week low of $12.44 and a 52-week high of $17.19. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.64 and a quick ratio of 0.64.

Elme Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Thursday, June 20th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Thursday, June 20th. Elme Communities’s payout ratio is currently -118.03%.

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.