Elme Communities (NYSE:ELME) Shares Sold by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. lowered its position in shares of Elme Communities (NYSE:ELME) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,146 shares of the company’s stock after selling 2,326 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Elme Communities were worth $177,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Elme Communities by 0.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,157,626 shares of the company’s stock valued at $31,501,000 after purchasing an additional 14,940 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Elme Communities by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,557,836 shares of the company’s stock valued at $22,744,000 after purchasing an additional 49,403 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Elme Communities by 1.6% in the third quarter. Invesco Ltd. now owns 726,967 shares of the company’s stock valued at $9,916,000 after purchasing an additional 11,331 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Elme Communities by 14.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 275,518 shares of the company’s stock valued at $4,086,000 after purchasing an additional 35,662 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Elme Communities by 1.0% in the third quarter. Swiss National Bank now owns 192,900 shares of the company’s stock valued at $2,631,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analyst Ratings Changes

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

Elme Communities Stock Down 1.5 %

NYSE:ELME traded down $0.24 during midday trading on Thursday, reaching $16.01. The company had a trading volume of 110,947 shares, compared to its average volume of 677,524. Elme Communities has a 12-month low of $12.44 and a 12-month high of $17.19. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -26.64 and a beta of 0.87. The stock’s fifty day simple moving average is $14.72 and its 200-day simple moving average is $14.20.

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Thursday, June 20th 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 4.50%. The ex-dividend date of this dividend is Thursday, June 20th. Elme Communities’s dividend payout ratio (DPR) is currently -118.03%.

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.