Elme Communities (NYSE:ELME) Trading Up 1.1%

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 (NYSE:ELME – Get Rating) last issued its quarterly earnings results on Friday, February 17th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.29). The business had revenue of $55.59 million for the quarter, compared to analyst estimates of $55.80 million. Elme Communities had a negative return on equity of 2.39% and a negative net margin of 14.74%. Elme Communities’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. As a group, equities analysts expect that Elme Communities will post 0.99 EPS for the current year.

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

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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.