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

Elme Communities (NYSE:ELME) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 0.920-0.940 for the period, compared to the consensus EPS estimate of 0.930. The company issued revenue guidance of -. Elme Communities also updated its FY24 guidance to $0.92-0.94 EPS.

Analyst Ratings Changes

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

Elme Communities Trading Up 1.3 %

ELME traded up $0.22 during trading on Monday, reaching $16.70. 428,651 shares of the company’s stock were exchanged, compared to its average volume of 580,800. The firm has a market capitalization of $1.47 billion, a PE ratio of -26.58 and a beta of 0.89. The company’s fifty day moving average price is $17.40 and its 200-day moving average price is $16.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.55. Elme Communities has a fifty-two week low of $12.74 and a fifty-two week 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.