Elme Communities (NYSE:ELME – Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.27), Zacks reports. Elme Communities had a negative return on equity of 1.16% and a negative net margin of 5.51%. The company had revenue of $61.06 million for the quarter, compared to the consensus estimate of $60.31 million. During the same quarter last year, the business earned $0.24 EPS. Elme Communities’s revenue was up 7.8% on a year-over-year basis. Elme Communities updated its FY24 guidance to $0.92-0.94 EPS and its FY 2024 guidance to 0.920-0.940 EPS.
Elme Communities Stock Up 1.6 %
Elme Communities stock traded up $0.27 during midday trading on Wednesday, reaching $17.17. The stock had a trading volume of 216,258 shares, compared to its average volume of 579,723. Elme Communities has a 12 month low of $12.74 and a 12 month high of $18.49. The company has a market capitalization of $1.51 billion, a P/E ratio of -112.63 and a beta of 0.89. The company has a fifty day moving average price of $17.38 and a two-hundred day moving average price of $16.46. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Thursday, December 19th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Thursday, December 19th. Elme Communities’s payout ratio is -479.97%.
Analyst Upgrades and Downgrades
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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.
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