Elme Communities to Issue Quarterly Dividend of $0.18 (NYSE:ELME)

Posted by Trent Williams on Sep 18th, 2024

Elme Communities (NYSE:ELME – Get Free Report) declared a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Thursday, September 19th will be given a dividend of 0.18 per share on Thursday, October 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, September 19th.

Elme Communities has raised its dividend payment by an average of 30.8% annually over the last three years. Elme Communities has a dividend payout ratio of -1,028.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Elme Communities to earn $0.94 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 76.6%.

Elme Communities Trading Down 0.5 %

NYSE:ELME opened at $18.13 on Wednesday. The company has a market cap of $1.60 billion, a P/E ratio of -29.71 and a beta of 0.90. Elme Communities has a twelve month low of $12.44 and a twelve month high of $18.45. The business has a 50 day moving average price of $17.04 and a two-hundred day moving average price of $15.63. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.61.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ELME shares. Wells Fargo & Company raised their target price on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. raised their price objective on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Monday.

Check Out Our Latest Research Report on ELME

Elme Communities Company Profile

(Get Free Report)

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.