Elme Communities (NYSE:ELME) Releases FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented 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. Wells Fargo & Company lifted their price target on shares of Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Finally, Wolfe Research began coverage on shares of Elme Communities in a report on Monday, October 21st. They set a “peer perform” rating on the stock.

Elme Communities Trading Up 1.3 %

ELME stock traded up $0.22 during midday trading on Monday, hitting $16.70. The stock had a trading volume of 428,651 shares, compared to its average volume of 580,800. The firm has a market cap of $1.47 billion, a P/E ratio of -26.58 and a beta of 0.89. 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 has a 1-year low of $12.74 and a 1-year high of $18.49. The business has a fifty day moving average price of $17.40 and a two-hundred day moving average price of $16.43.

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.