Entropy Technologies LP Invests $197,000 in Elme Communities (NYSE:ELME)

Entropy Technologies LP acquired a new position in shares of Elme Communities (NYSE:ELME) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,886 shares of the company’s stock, valued at approximately $197,000.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Elme Communities by 35.0% during the 3rd 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 grew its holdings in shares of Elme Communities by 51.8% during the 3rd 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. acquired a new stake in shares of Elme Communities during the 3rd quarter worth approximately $86,000. Blue Trust Inc. grew its holdings in shares of Elme Communities by 888.4% during the 3rd quarter. Blue Trust Inc. now owns 10,675 shares of the company’s stock worth $188,000 after purchasing an additional 9,595 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Elme Communities by 9.5% during the 3rd quarter. M&T Bank Corp now owns 11,525 shares of the company’s stock worth $203,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 87.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ELME. JPMorgan Chase & Co. lowered Elme Communities from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $18.00 in a research note on Tuesday, December 17th. Truist Financial raised Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Finally, Wolfe Research began coverage on Elme Communities in a research note on Monday, October 21st. They issued a “peer perform” rating on the stock.

Elme Communities Price Performance

Elme Communities stock opened at $17.28 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $1.52 billion, a P/E ratio of -115.21 and a beta of 0.91. The business’s fifty day moving average is $15.25 and its two-hundred day moving average is $16.47. Elme Communities has a 52 week low of $12.74 and a 52 week high of $18.49.

Elme Communities (NYSE:ELME) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. Equities research analysts forecast that Elme Communities will post 0.94 earnings per share for the current fiscal year.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.17%. Elme Communities’s payout ratio is currently -479.97%.

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.