Elme Communities (NYSE:ELME) shares traded 1.06% higher at $18.18 on Wall Street last session.
In accordance with the data, 5 analysts cover Elme Communities (NYSE:ELME). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $18.00, we find $19.00. Given the previous closing price of $17.99, this indicates a potential upside of 5.61 percent. ELME stock price is now -1.92% away from the 50-day moving average and -7.62% away from the 200-day moving average. The market capitalization of the company currently stands at $1.62B.
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It has been rated a hold by 5 analysts and a buy by 0. Brokers who have rated the stock have averaged $19.00 as their price target over the next twelve months.
Insiders disposed of 93,103 shares of company stock worth roughly $1.69 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ELME stock. A new stake in Elme Communities shares was purchased by VESTCOR INC during the first quarter worth $948,000. AMALGAMATED FINANCIAL CORP. invested $690,000 in shares of ELME during the first quarter. In the first quarter, JEFFERIES GROUP LLC acquired a new stake in Elme Communities valued at approximately $685,000. BLEAKLEY FINANCIAL GROUP, LLC acquired a new stake in ELME for approximately $528,000. VERITION FUND MANAGEMENT LLC purchased a new stake in ELME valued at around $392,000 in the second quarter. In total, there are 290 active investors with 93.50% ownership of the company’s stock.
Elme Communities (NYSE: ELME) opened at $18.41 on Tuesday. During the past 12 months, Elme Communities has had a low of $16.14 and a high of $26.12. The fifty day moving average price for ELME is $18.54 and a two-hundred day moving average price translates $19.65 for the stock.
The latest earnings results from Elme Communities (NYSE: ELME) was released for Sep, 2022. According to the REIT – Office Company, earnings per share came in at -$0.12, missing analysts’ expectations of -$0.06 by -0.06. This compares to -$0.08 EPS in the same period last year. The net profit margin was -14.90% and return on equity was -2.40% for ELME. The company reported revenue of $55.59 million for the quarter, compared to $44.75 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 24.24 percent. For the current quarter, analysts expect ELME to generate $55.81M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/05/2023. Investors who held shares on 03/22/2023 were paid a $0.18 dividend. On an annualized basis, this represents a $0.72 dividend and a 3.96% percent yield. There was an ex-dividend date of 03/21/2023 for this dividend.
Elme Communities(ELME) Company Profile
Elme Communities owns and operates uniquely positioned real estate assets in the Washington Metro area. Backed by decades of experience, expertise and ambition, we create value by transforming insights into strategy and strategy into action. As of October 29, 2020, the Company’s portfolio of 45 properties includes approximately 3.7 million square feet of commercial space and 6,863 multifamily apartment units. These 45 properties consist of 22 multifamily properties,15 office properties, and 8 retail centers. Our shares trade on the NYSE. With a track record of driving returns and delivering satisfaction, we are a trusted authority in one of the nation’s most competitive real estate markets.
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