The price of Elme Communities (NYSE:ELME) shares last traded on Wall Street rose 1.28% to $16.65.
ELME stock price is now 2.76% away from the 50-day moving average and -6.59% away from the 200-day moving average. The market capitalization of the company currently stands at $1.46B.
Insiders disposed of 94,580 shares of company stock worth roughly $1.57 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 SUSQUEHANNA INTERNATIONAL GROUP, LLP during the first quarter worth $2,444,000. ALLSTATE CORP invested $2,071,000 in shares of ELME during the first quarter. In the first quarter, EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in Elme Communities valued at approximately $2,064,000. ANSON FUNDS MANAGEMENT LP acquired a new stake in ELME for approximately $1,555,000. CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC purchased a new stake in ELME valued at around $1,390,000 in the second quarter. In total, there are 288 active investors with 93.50% ownership of the company’s stock.
A candlestick chart of Elme Communities (NYSE: ELME) showed a price of $16.43 on Monday morning. During the past 12 months, Elme Communities has had a low of $14.95 and a high of $22.30. The fifty day moving average price for ELME is $16.20 and a two-hundred day moving average price translates $17.83 for the stock.
The latest earnings results from Elme Communities (NYSE: ELME) was released for Mar, 2023. According to the REIT – Residential Company, earnings per share came in at -$0.04, missing analysts’ expectations of $0.01 by -0.05. This compares to -$0.09 EPS in the same period last year. The net profit margin was -12.40% and return on equity was -2.10% for ELME. The company reported revenue of $55.81 million for the quarter, compared to $47.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.75 percent. For the current quarter, analysts expect ELME to generate $56.63M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/06/2023. Investors who held shares on 06/22/2023 were paid a $0.18 dividend. On an annualized basis, this represents a $0.72 dividend and a 4.32% percent yield. There was an ex-dividend date of 06/21/2023 for this dividend.
Elme Communities(ELME) Company Profile
Elme Communities (formerly known as Washington Real Estate Investment Trust or WashREIT) 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 8,900 apartment homes in the Washington, DC metro and the Sunbelt, and owns approximately 300,000 square feet of commercial space. Focused on providing quality, affordable homes to a deep, solid, and underserved base of mid-market demand, Elme Communities is building long-term value for shareholders.
