Woodstock Corp, a financial services company, has recently acquired a new position in Elme Communities through a significant purchase of the company’s shares. According to its latest filing with the Securities and Exchange Commission, Woodstock purchased 13,225 shares of Elme Communities’ stock during the second quarter of this year. The total value of this investment amounts to approximately $217,000.
Elme Communities, which was previously known as Washington Real Estate Investment Trust or WashREIT, is dedicated to enhancing the concept of home for middle-income renters. By providing a higher standard of quality, service, and overall experience, the company aims to redefine what it means to live in rental properties for this target market. As a multifamily real estate investment trust, Elme Communities owns and operates around 8,900 apartment homes in the Washington, DC metro area and the Sunbelt region. Additionally, it also possesses approximately 300,000 square feet of commercial space.
In addition to its recent share acquisition by Woodstock Corp, Elme Communities has also disclosed an upcoming quarterly dividend payment. This dividend will be issued on Wednesday, October 4th to shareholders who are recorded as such on Wednesday, September 20th. The dividend payout is set at $0.18 per share owned. With an annualized basis dividend payout ratio currently standing at -313.04%, shareholders can expect a yield of 4.86%.
This news signifies promising developments for both Woodstock Corp and Elme Communities. Woodstock Corp’s purchase showcases its confidence in the future growth potential and financial stability of Elme Communities. On the other hand,jElme Communities continues to prioritize investor returns by committing to regular dividend payments despite their current negative payout ratio.
As always with financial investments and acquisitions within the real estate sector,Fpotential investors are urged toutilize their own research when making any investment decisions as part of their due diligence process-.
Updated on: 26/09/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
4:00 PM (UTC)
Date:18 October, 2022
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Elme Communities Sees Increased Interest from Institutional Investors and Hedge Funds, Demonstrating Growing Appeal in the Market
September 17, 2023
Elme Communities Continues to Attract Institutional Investors and Hedge Funds
In recent months, several institutional investors and hedge funds have shown interest in Elme Communities, either by increasing or reducing their stakes in the company. Tower Research Capital LLC TRC, US Bancorp DE, Belpointe Asset Management LLC, Steward Partners Investment Advisory LLC, and Washington Trust Co are among those who have made significant investments. These moves highlight the growing appeal of Elme Communities in the market.
One notable addition is Tower Research Capital LLC TRC, which acquired a new position in Elme Communities during the first quarter valued at $29,000. Similarly, US Bancorp DE also acquired a new position in the company during the same period for an identical amount. This trend continued with Belpointe Asset Management LLC’s acquisition of shares valued at $40,000 and Steward Partners Investment Advisory LLC’s purchase of shares worth $43,000 in the first quarter. Finally, WASHINGTON TRUST Co acquired a new stake in Elme Communities worth $55,000 during this period.
It is noteworthy that institutional investors and hedge funds now collectively own 88.48% of Elme Communities’ stock. This high degree of ownership demonstrates the confidence these professionals have placed in the company’s potential for growth and success.
Shares of NYSE ELME experienced a slight decline on Friday’s trading session. The stock traded down by $0.08 to reach $14.81 per share. The trading volume was relatively modest compared to its average volume of 558,303 shares traded daily.
Over the past year, Elme Communities has seen its share price fluctuate between a low of $14.58 and a high of $20.24. Currently, it has a 50-day moving average price of $15.71 and a 200-day moving average price of $16.45. The company holds a market capitalization of $1.30 billion and operates with a negative P/E ratio of -64.72, indicating the firm’s potential for future profitability. Elme Communities also has a beta value of 0.97, suggesting moderate price volatility in relation to the overall market. Additionally, the company maintains a quick ratio and current ratio of 0.63, showcasing its liquidity position and ability to meet short-term obligations efficiently.
Elme Communities, formerly known as Washington Real Estate Investment Trust or WashREIT, is dedicated to enhancing the concept of home for middle-income renters by providing superior quality, service, and experience. As a multifamily real estate investment trust, Elme Communities currently owns and operates approximately 8,900 apartment homes in the Washington, DC metro area and the Sunbelt region. Moreover, it possesses around 300,000 square feet of commercial space.
Financial analysts have recently commented on Elme Communities’ performance in the stock market. Wells Fargo & Company reduced their price objective on shares from $18.00 to $15.00 but maintained an “equal weight” rating for the company in their research report published on Tuesday. Likewise, Truist Financial lowered their price objective from $19.00 to $18.00 in a research report released on Wednesday, June 28th.
In conclusion, Elme Communities continues to attract institutional investors and hedge funds due to its strong market presence and potential for growth in the real estate sector. As savvy investors recognize the company’s commitment to providing exceptional living experiences for middle-income renters, it is expected that its value will continue to expand in the months ahead.
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