Elme Communities (NYSE:ELME – Get Rating)’s stock price traded up 1.1% during mid-day trading on Tuesday . The company traded as high as $18.47 and last traded at $18.18. 620,753 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 436,509 shares. The stock had previously closed at $17.99.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on ELME. Truist Financial boosted their target price on shares of Elme Communities from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Tuesday, February 21st. Wells Fargo & Company cut their price target on shares of Elme Communities to $18.00 in a research report on Wednesday, December 14th. Finally, BTIG Research lowered Elme Communities from a “buy” rating to a “neutral” rating in a report on Wednesday, January 11th.
Elme Communities Trading Up 1.1 %
The stock has a 50-day simple moving average of $18.58. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -51.94 and a beta of 0.93.
Elme Communities Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 22nd will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, March 21st. This represents a $0.72 dividend on an annualized basis and a yield of 3.96%. This is an increase from Elme Communities’s previous quarterly dividend of $0.17. Elme Communities’s payout ratio is -194.29%.
Elme Communities Company Profile
Elme Communities engages in the ownership and operation of income-producing real estate properties. It operates through the following segments: Office and Multifamily. The Office segment provides office space for various types of businesses and professions. The Multifamily segment provides rental housing for individuals and families throughout the Washington metro region.
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