Elme Communities (NYSE:ELME) Updates FY24 Earnings Guidance

Elme Communities (NYSE:ELME) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.91-0.95 for the period, compared to the consensus earnings per share estimate of $0.93.

Analysts Set New Price Targets

Separately, Truist Financial raised their target price on shares of Elme Communities from $15.00 to $16.00 and gave the stock a hold rating in a report on Wednesday, May 15th.

Elme Communities Stock Up 1.5 %

Shares of Elme Communities stock traded up $0.24 during trading on Thursday, reaching $16.70. The stock had a trading volume of 652,412 shares, compared to its average volume of 635,395. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -27.20 and a beta of 0.89. The stock has a fifty day moving average price of $15.74 and a two-hundred day moving average price of $14.85. Elme Communities has a 52 week low of $12.44 and a 52 week high of $16.98.

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.