Elme Communities (NYSE:ELME – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $0.92-0.94 for the period, compared to the consensus EPS estimate of $0.94. Elme Communities also updated its FY 2024 guidance to 0.920-0.940 EPS.
Analyst Upgrades and Downgrades
ELME has been the topic of several recent research reports. Wolfe Research initiated coverage on Elme Communities in a research report on Monday, October 21st. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company upped their price objective 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.
Check Out Our Latest Report on Elme Communities
Elme Communities Stock Up 1.1 %
Elme Communities (NYSE:ELME – Get Free Report) last released its earnings results on Monday, November 4th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.27). The business had revenue of $61.06 million for the quarter, compared to the consensus estimate of $60.31 million. Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.16%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. Equities research analysts anticipate that Elme Communities will post 0.94 earnings per share for the current fiscal year.
Elme Communities Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, December 19th. Elme Communities’s dividend payout ratio (DPR) is presently -480.00%.
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.
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