Elme Communities (NYSE:ELME – Get Free Report) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 1,940,000 shares, a growth of 9.0% from the July 31st total of 1,780,000 shares. Based on an average trading volume of 489,700 shares, the short-interest ratio is presently 4.0 days. Currently, 2.2% of the company’s stock are sold short.
Wall Street Analyst Weigh In
Separately, Truist Financial raised their price target on shares of Elme Communities from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, May 15th.
View Our Latest Report on Elme Communities
Hedge Funds Weigh In On Elme Communities
Elme Communities Stock Performance
ELME stock traded up $0.06 on Tuesday, hitting $17.72. The company had a trading volume of 296,235 shares, compared to its average volume of 603,731. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. Elme Communities has a 12-month low of $12.44 and a 12-month high of $17.80. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -29.07 and a beta of 0.90. The stock’s 50-day simple moving average is $16.53 and its 200 day simple moving average is $15.28.
Elme Communities Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.06%. Elme Communities’s payout ratio is -118.03%.
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.
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