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

Elme Communities (NYSE:ELME) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.920-0.940 for the period, compared to the consensus earnings per share 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

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

Elme Communities Trading Up 0.4 %

ELME traded up $0.07 during trading on Tuesday, hitting $16.77. 178,010 shares of the company’s stock were exchanged, compared to its average volume of 578,917. The firm has a market cap of $1.48 billion, a P/E ratio of -26.94 and a beta of 0.89. The stock has a 50 day moving average price of $17.39 and a 200 day moving average price of $16.44. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. Elme Communities has a 1 year low of $12.74 and a 1 year high of $18.49.

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.