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

Elme Communities (NYSE:ELME) issued an update on its FY 2024 earnings guidance on Monday morning. 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.

Elme Communities Stock Up 0.4 %

ELME traded up $0.07 during midday trading on Tuesday, hitting $16.77. 178,010 shares of the company’s stock traded hands, compared to its average volume of 578,917. Elme Communities has a one year low of $12.74 and a one year high of $18.49. The company has a market cap of $1.48 billion, a PE ratio of -26.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.55 and a quick ratio of 0.55. The stock’s fifty day simple moving average is $17.39 and its 200-day simple moving average is $16.44.

Wall Street Analysts Forecast Growth

ELME has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Elme Communities from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Wolfe Research started coverage on Elme Communities in a report on Monday, October 21st. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. increased their target price on Elme Communities from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th.

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.