Elme Communities (ELME) to Issue Quarterly Dividend of $0.18 on October 3rd

Elme Communities (NYSE:ELME) declared a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Shareholders of record on Thursday, September 19th will be given a dividend of 0.18 per share on Thursday, October 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Thursday, September 19th.

Elme Communities has increased its dividend by an average of 30.8% per year over the last three years. Elme Communities has a payout ratio of -1,028.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Elme Communities to earn $0.92 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 78.3%.

Elme Communities Stock Up 1.4 %

NYSE:ELME opened at $16.93 on Friday. Elme Communities has a 1 year low of $12.44 and a 1 year high of $17.36. 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 stock has a market cap of $1.49 billion, a price-to-earnings ratio of -27.75 and a beta of 0.89. The stock has a 50-day moving average price of $15.78 and a two-hundred day moving average price of $14.88.

Analyst Ratings Changes

Separately, Truist Financial boosted their price target on Elme Communities from $15.00 to $16.00 and gave the company a “hold” rating in a report on Wednesday, May 15th.

Elme Communities Company Profile

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.