Elme Communities (NYSE:ELME - Get Free Report) declared a quarterly dividend on Monday, November 4th, Zacks reports. Stockholders of record on Thursday, December 19th will be paid a dividend of 0.18 per share on Monday, January 6th. This represents a $0.72 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Thursday, December 19th.
Elme Communities has increased its dividend payment by an average of 30.8% annually over the last three years. Elme Communities has a dividend payout ratio of -654.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Elme Communities to earn $0.95 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 75.8%.
Elme Communities stock traded up $0.49 during midday trading on Wednesday, hitting $17.39. The stock had a trading volume of 93,538 shares, compared to its average volume of 579,152. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average price of $17.38 and a 200 day moving average price of $16.46. Elme Communities has a 12 month low of $12.74 and a 12 month high of $18.49. The stock has a market cap of $1.53 billion, a P/E ratio of -112.63 and a beta of 0.89.
Elme Communities (NYSE:ELME - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). The firm had revenue of $61.06 million for the quarter, compared to analyst estimates of $60.31 million. Elme Communities had a negative net margin of 5.51% and a negative return on equity of 1.16%. The business's revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. Research analysts predict that Elme Communities will post 0.94 EPS for the current year.
ELME has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective 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 target on Elme Communities from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Finally, Wolfe Research assumed coverage on Elme Communities in a research note on Monday, October 21st. They set a "peer perform" rating for the company.
View Our Latest Analysis on ELME
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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