Elme Communities (NYSE:ELME) Issues Earnings Results, Beats Estimates By $0.26 EPS

Elme Communities (NYSE:ELME) released its quarterly earnings data on Thursday. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.26, Zacks reports. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. Elme Communities updated its FY 2025 guidance to 0.910-0.970 EPS.

Elme Communities Stock Up 11.6 %

ELME opened at $17.28 on Friday. Elme Communities has a 1-year low of $12.74 and a 1-year high of $18.49. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -115.21 and a beta of 0.91. The business has a 50 day moving average of $15.25 and a 200-day moving average of $16.47.

Elme Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be given a $0.18 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.17%. Elme Communities’s dividend payout ratio is -479.97%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ELME. JPMorgan Chase & Co. downgraded Elme Communities from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $18.00 in a report on Tuesday, December 17th. Truist Financial upgraded Elme Communities from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Wolfe Research began coverage on Elme Communities in a report on Monday, October 21st. They set a “peer perform” rating on the stock.

About Elme Communities

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.