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

Elme Communities (NYSE:ELME) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.910-0.950 for the period, compared to the consensus estimate of 0.920. The company issued revenue guidance of -. Elme Communities also updated its FY24 guidance to $0.91-0.95 EPS.

Wall Street Analyst Weigh In

Separately, Truist Financial raised their price target on Elme Communities from $15.00 to $16.00 and gave the stock a hold rating in a research note on Wednesday, May 15th.

Elme Communities Price Performance

Shares of NYSE ELME traded up $0.24 during mid-day trading on Friday, reaching $16.94. The company had a trading volume of 834,700 shares, compared to its average volume of 462,106. The stock has a market cap of $1.49 billion, a PE ratio of -27.75 and a beta of 0.89. The company has a 50-day moving average price of $15.78 and a two-hundred day moving average price of $14.88. 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 has a 1-year low of $12.44 and a 1-year high of $17.36.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th will be paid a $0.18 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.25%. Elme Communities’s payout ratio is presently -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.