Elme Communities (NYSE:ELME) Issues FY 2024 Earnings Guidance

Elme Communities (NYSE:ELME) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 0.920-0.940 for the period, compared to the consensus EPS estimate of 0.930. The company issued revenue guidance of -. Elme Communities also updated its FY24 guidance to $0.92-0.94 EPS.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ELME. Wells Fargo & Company boosted their target price on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Wolfe Research began coverage on shares of Elme Communities in a research note on Monday, October 21st. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

Elme Communities Stock Performance

Shares of ELME stock traded up $0.22 during trading on Monday, reaching $16.70. 428,651 shares of the company’s stock traded hands, compared to its average volume of 580,800. The company has a market capitalization of $1.47 billion, a P/E ratio of -26.58 and a beta of 0.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average is $17.40 and its 200 day moving average is $16.43. Elme Communities has a 1 year low of $12.74 and a 1 year high of $18.49.

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.