Elme Communities (NYSE:ELME) Issues FY24 Earnings Guidance

Elme Communities (NYSE:ELME) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $0.92-0.94 for the period, compared to the consensus EPS 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 recently weighed in on ELME shares. Wells Fargo & Company upped their target price on shares of Elme Communities from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Wolfe Research assumed coverage on Elme Communities in a report on Monday, October 21st. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on Elme Communities from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

Elme Communities Price Performance

Shares of NYSE ELME traded down $0.10 during mid-day trading on Tuesday, hitting $16.60. 46,036 shares of the company’s stock traded hands, compared to its average volume of 578,301. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.55 and a quick ratio of 0.55. Elme Communities has a 1 year low of $12.74 and a 1 year high of $18.49. The company’s 50-day moving average is $17.39 and its two-hundred day moving average is $16.44. The company has a market capitalization of $1.46 billion, a P/E ratio of -26.94 and a beta of 0.89.

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.