Principal Financial Group Inc. Has $6.35 Million Position in Elme Communities (NYSE:ELME)

Principal Financial Group Inc. cut its stake in shares of Elme Communities (NYSE:ELME) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 456,090 shares of the company’s stock after selling 1,791 shares during the quarter. Principal Financial Group Inc. owned approximately 0.52% of Elme Communities worth $6,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELME. GAMMA Investing LLC bought a new position in shares of Elme Communities in the 4th quarter worth about $25,000. Tower Research Capital LLC TRC raised its position in shares of Elme Communities by 116.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,117 shares of the company’s stock worth $60,000 after acquiring an additional 2,218 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Elme Communities in the 3rd quarter worth about $145,000. PNC Financial Services Group Inc. raised its position in shares of Elme Communities by 36.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 11,885 shares of the company’s stock worth $162,000 after acquiring an additional 3,165 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Elme Communities by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 12,318 shares of the company’s stock worth $180,000 after acquiring an additional 2,025 shares in the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Truist Financial lifted 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 Up 0.2 %

Elme Communities stock traded up $0.03 during midday trading on Friday, reaching $15.38. The stock had a trading volume of 63,480 shares, compared to its average volume of 658,013. Elme Communities has a 12 month low of $12.44 and a 12 month high of $17.19. The company has a market capitalization of $1.35 billion, a P/E ratio of -25.16 and a beta of 0.89. The company has a fifty day moving average price of $15.52 and a two-hundred day moving average price of $14.63. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60.

Elme Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Thursday, June 20th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend was Thursday, June 20th. Elme Communities’s payout ratio is -118.03%.

Elme Communities Company 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.