Should I buy or sell Elme Communities stock right now?

3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Elme Communities in the last twelve months. There are currently 3 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" ELME shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ELME, but not buy additional shares or sell existing shares. View ELME analyst ratings or view top-rated stocks .

What is Elme Communities' stock price target for 2024?

3 analysts have issued 12-month price objectives for Elme Communities' shares. Their ELME share price targets range from $14.00 to $18.00. On average, they expect the company's share price to reach $16.00 in the next twelve months. This suggests a possible upside of 16.5% from the stock's current price. View analysts price targets for ELME or view top-rated stocks among Wall Street analysts .

How have ELME shares performed in 2023?

Elme Communities' stock was trading at $17.80 on January 1st, 2023. Since then, ELME shares have decreased by 22.9% and is now trading at $13.73. View the best growth stocks for 2023 here .

Are investors shorting Elme Communities?

Elme Communities saw a decline in short interest in the month of November. As of November 15th, there was short interest totaling 1,470,000 shares, a decline of 22.2% from the October 31st total of 1,890,000 shares. Based on an average daily volume of 592,800 shares, the short-interest ratio is presently 2.5 days. Currently, 1.7% of the shares of the company are sold short. View Elme Communities' Short Interest .

When is Elme Communities' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, February 15th 2024. View our ELME earnings forecast .

How were Elme Communities' earnings last quarter?

Elme Communities (NYSE:ELME) posted its quarterly earnings results on Friday, February, 17th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by $0.29. The firm earned $55.59 million during the quarter, compared to analysts' expectations of $55.80 million. Elme Communities had a negative trailing twelve-month return on equity of 4.35% and a negative net margin of 23.77%. The firm's revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 EPS.

How often does Elme Communities pay dividends? What is the dividend yield for Elme Communities?

Elme Communities declared a quarterly dividend on Thursday, October 26th. Investors of record on Thursday, December 21st will be paid a dividend of $0.18 per share on Thursday, January 4th. This represents a $0.72 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend is Wednesday, December 20th. Read our dividend analysis for ELME .

Is Elme Communities a good dividend stock?

Elme Communities (NYSE:ELME) pays an annual dividend of $0.72 per share and currently has a dividend yield of 5.46%. ELME has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. Read our dividend analysis for ELME .

What ETFs hold Elme Communities' stock?

ETFs with the largest weight of Elme Communities (NYSE:ELME) stock in their portfolio include Kelly Residential & Apartment Real Estate ETF (RESI) , Residential REIT ETF (HAUS) , Invesco Active U.S. Real Estate ETF (PSR) , Nuveen Short-Term REIT ETF (NURE) , SP Funds S&P Global REIT Sharia ETF (SPRE) , ETFB Green SRI REITs ETF (RITA) and iShares Residential and Multisector Real Estate ETF (REZ) . Fidelity Real Estate Investment ETF (FPRO) .

What guidance has Elme Communities issued on next quarter's earnings?

Elme Communities issued an update on its FY23 earnings guidance on Thursday, October, 26th. The company provided earnings per share guidance of $0.97-0.99 for the period, compared to the consensus estimate of $0.98.

Who are Elme Communities' major shareholders?

Elme Communities' stock is owned by a variety of institutional and retail investors. Top institutional investors include FMR LLC (5.81%), Allspring Global Investments Holdings LLC (2.44%), William Blair Investment Management LLC (1.94%), Charles Schwab Investment Management Inc. (1.72%), Northern Trust Corp (1.25%) and Citigroup Inc. (1.21%).

How do I buy shares of Elme Communities?

Shares of ELME stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull , Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here .

Elme Communities Stock Price, News & Analysis (NYSE:ELME)

$13.73

+0.59 (+4.49%)

(As of 12/1/2023 ET)

Compare

Today's Range: $13.14
▼
$13.84
50-Day Range: $12.56
▼
$14.29
52-Week Range: $12.44
▼
$19.87

Volume: 693,794 shs
Average Volume: 578,710 shs
Market Capitalization: $1.21 billion

P/E Ratio: N/A
Dividend Yield: 5.24%
Price Target: $16.00

Elme Communities MarketRank™ Stock Analysis

Analyst Rating: Hold
2.00 Rating Score
Upside/Downside: 16.5% Upside
$16.00 Price Target
Short Interest: Healthy
1.70% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: N/A
News Sentiment: N/A
Insider Trading: N/A
Proj. Earnings Growth: 3.06%
From $0.98 to $1.01 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.07 out of 5 stars

Finance Sector

452nd out of 845 stocks

Real Estate Investment Trusts Industry

84th out of 178 stocks

2.0

Analyst's Opinion

Consensus Rating
Elme Communities has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 3 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $16.00, Elme Communities has a forecasted upside of 16.5% from its current price of $13.73.
Amount of Analyst Coverage
Elme Communities has only been the subject of 1 research reports in the past 90 days.

5.0

Short Interest

Percentage of Shares Shorted
1.70% of the float of Elme Communities has been sold short.
Short Interest Ratio / Days to Cover
Elme Communities has a short interest ratio ("days to cover") of 2.5, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Elme Communities has recently decreased by 22.22%, indicating that investor sentiment is improving significantly.

2.5

Dividend Strength

Dividend Leadership
Elme Communities is a leading dividend payer. It pays a dividend yield of 5.46%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Elme Communities has only been increasing its dividend for 1 years.
Dividend Sustainability
Based on earnings estimates, Elme Communities will have a dividend payout ratio of 71.29% next year. This indicates that Elme Communities will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for ELME.

2.2

News and Social Media Coverage

News Sentiment
Elme Communities has a news sentiment score of 1.00. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.64 average news sentiment score of Finance companies.
News Coverage This Week
MarketBeat has tracked 1 news article for Elme Communities this week, compared to 1 article on an average week.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Elme Communities insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 1.10% of the stock of Elme Communities is held by insiders.
Percentage Held by Institutions
88.48% of the stock of Elme Communities is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Elme Communities are expected to grow by 3.06% in the coming year, from $0.98 to $1.01 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Elme Communities is -22.51, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Elme Communities is -22.51, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Elme Communities has a P/B Ratio of 1.03. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Elme Communities Stock (NYSE:ELME)

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.

ELME Stock Price History

30 days | 90 days | 365 days | Advanced Chart

ELME Stock News Headlines

November 15, 2023 | morningstar.com

Elme Communities ELME

October 31, 2023 | msn.com

Elme Communities: Positive Developments, Neutral View On Shares

December 1, 2023 | DTI Trader (Ad)

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October 30, 2023 | gurufocus.com

The Elme Communities (ELME) Company: A Short SWOT Analysis

October 29, 2023 | finance.yahoo.com

Elme Communities (NYSE:ELME) Q3 2023 Earnings Call Transcript

October 28, 2023 | finance.yahoo.com

Q3 2023 Elme Communities Earnings Call

October 26, 2023 | msn.com

Elme Communities FFO of $0.24 in-line, revenue of $56.65M misses by $0.52M

October 26, 2023 | finance.yahoo.com

Elme Communities Announces Third Quarter 2023 Results

December 1, 2023 | DTI Trader (Ad)

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October 26, 2023 | finance.yahoo.com

Elme Communities (ELME) Reports Q3 2023 Results: Net Loss of $43.6 Million

October 3, 2023 | barrons.com

Elme Communities

October 2, 2023 | finance.yahoo.com

Elme Communities to Release Third Quarter 2023 Results on Thursday, October 26th

September 19, 2023 | finance.yahoo.com

A Deep Dive into Elme Communities' Dividend Performance

September 16, 2023 | foxnews.com

Arizona Dem calls out Biden DHS for dragging feet on helping state's border communities

September 14, 2023 | benzinga.com

Monday Is Your Last Chance To Buy Elme Communities Before The Dividend Payout

September 12, 2023 | msn.com

Wells Fargo Maintains Elme Communities (ELME) Equal-Weight Recommendation

August 30, 2023 | markets.businessinsider.com

Truist Financial Sticks to Its Hold Rating for Elme Communities (ELME)

August 24, 2023 | seekingalpha.com

ELME Communities: Executing On Transformation Efforts, Shares Fairly Valued

August 2, 2023 | finance.yahoo.com

Q2 2023 Elme Communities Earnings Call

July 31, 2023 | washingtonpost.com

Elme: Q2 Earnings Snapshot

July 31, 2023 | finance.yahoo.com

Elme Communities Announces Second Quarter 2023 Results

June 28, 2023 | finance.yahoo.com

Elme Communities Appoints Chief Operating Officer

June 26, 2023 | finance.yahoo.com

Elme Communities to Release Second Quarter 2023 Results on Monday, July 31st

June 20, 2023 | msn.com

Elme Communities: Investing In Smart Technologies To Grow FFO

June 14, 2023 | msn.com

Hotel near Wisbech sold to developer for £1.9m as conversion planned

May 24, 2023 | finance.yahoo.com

Elme Communities Issues 2023 ESG Report

April 29, 2023 | msn.com

Elme Communities (ELME) Declares $0.18 Dividend

See More Headlines

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Company Calendar

Last Earnings: 2/17/2023
Ex-Dividend for 10/4 Dividend: 9/19/2023
Dividend Payable: 10/04/2023
Today: 12/01/2023
Ex-Dividend for 1/4 Dividend: 12/20/2023
Fiscal Year End: 12/31/2023
Dividend Payable: 1/04/2024
Next Earnings (Estimated): 2/15/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Real estate investment trusts
Sub-Industry: N/A
Sector: Finance
Current Symbol: NYSE:ELME
CUSIP: N/A
CIK: 104894
Web: www.elmecommunities.com
Phone: (202) 774-3200
Fax: 301-984-9610
Employees: 102
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $16.00
High Stock Price Target: $18.00
Low Stock Price Target: $14.00
Potential Upside/Downside: +16.5%
Consensus Rating: Hold
Rating Score (0-4): 2.00
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.61)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 14.01
P/E Growth: N/A
Net Income: $-30,870,000.00
Net Margins: -23.77%
Pretax Margin: -23.77%
Return on Equity: -4.35%
Return on Assets: -2.86%

Debt

Debt-to-Equity Ratio: 0.57
Current Ratio: 0.63
Quick Ratio: 0.63

Sales & Book Value

Annual Sales: $209.38 million
Price / Sales: 5.76
Cash Flow: $0.77 per share
Price / Cash Flow: 17.77
Book Value: $13.36 per share
Price / Book: 1.03

Miscellaneous

Outstanding Shares: 87,830,000
Free Float: 86,867,000
Market Cap: $1.21 billion
Optionable: Optionable
Beta: 0.98

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Key Executives

Mr. Paul T. McDermott (Age 61)
Chairman of Board, President & CEO
Comp: $1.86M
Ms. Susan Lilly Gerock
Senior VP of Information Technology & Chief Information Officer
Mr. Steven Freishtat
Executive VP & CFO
Ms. Tiffany M. Butcher (Age 44)
Executive VP & COO
Mr. Wade Drew Hammond (Age 48)
Senior VP, Chief Accounting Officer, Chief Administrative Officer & Corporate Secretary
Ms. Amy Hopkins
Vice President of Investor Relations
Mr. Ian Kessler
Vice President of Human Resources
Mr. Eric Tilden
Senior Director of ESG
Mr. Stephen Burch
Controller

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

ELME Stock Analysis - Frequently Asked Questions

Should I buy or sell Elme Communities stock right now?: 3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Elme Communities in the last twelve months. There are currently 3 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" ELME shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ELME, but not buy additional shares or sell existing shares.
View ELME analyst ratings or view top-rated stocks.
What is Elme Communities' stock price target for 2024?: 3 analysts have issued 12-month price objectives for Elme Communities' shares. Their ELME share price targets range from $14.00 to $18.00. On average, they expect the company's share price to reach $16.00 in the next twelve months. This suggests a possible upside of 16.5% from the stock's current price.
View analysts price targets for ELME or view top-rated stocks among Wall Street analysts.
How have ELME shares performed in 2023?: Elme Communities' stock was trading at $17.80 on January 1st, 2023. Since then, ELME shares have decreased by 22.9% and is now trading at $13.73.
View the best growth stocks for 2023 here.
Are investors shorting Elme Communities?: Elme Communities saw a decline in short interest in the month of November. As of November 15th, there was short interest totaling 1,470,000 shares, a decline of 22.2% from the October 31st total of 1,890,000 shares. Based on an average daily volume of 592,800 shares, the short-interest ratio is presently 2.5 days. Currently, 1.7% of the shares of the company are sold short.
View Elme Communities' Short Interest.
When is Elme Communities' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, February 15th 2024.
View our ELME earnings forecast.
How were Elme Communities' earnings last quarter?: Elme Communities (NYSE:ELME) posted its quarterly earnings results on Friday, February, 17th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by $0.29. The firm earned $55.59 million during the quarter, compared to analysts' expectations of $55.80 million. Elme Communities had a negative trailing twelve-month return on equity of 4.35% and a negative net margin of 23.77%. The firm's revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 EPS.

How often does Elme Communities pay dividends? What is the dividend yield for Elme Communities?: Elme Communities declared a quarterly dividend on Thursday, October 26th. Investors of record on Thursday, December 21st will be paid a dividend of $0.18 per share on Thursday, January 4th. This represents a $0.72 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend is Wednesday, December 20th.
Read our dividend analysis for ELME.
Is Elme Communities a good dividend stock?: Elme Communities (NYSE:ELME) pays an annual dividend of $0.72 per share and currently has a dividend yield of 5.46%. ELME has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer.
Read our dividend analysis for ELME.
What ETFs hold Elme Communities' stock?: ETFs with the largest weight of Elme Communities (NYSE:ELME) stock in their portfolio include Kelly Residential & Apartment Real Estate ETF (RESI), Residential REIT ETF (HAUS), Invesco Active U.S. Real Estate ETF (PSR), Nuveen Short-Term REIT ETF (NURE), SP Funds S&P Global REIT Sharia ETF (SPRE), ETFB Green SRI REITs ETF (RITA) and iShares Residential and Multisector Real Estate ETF (REZ).Fidelity Real Estate Investment ETF (FPRO).
What guidance has Elme Communities issued on next quarter's earnings?: Elme Communities issued an update on its FY23 earnings guidance on Thursday, October, 26th. The company provided earnings per share guidance of $0.97-0.99 for the period, compared to the consensus estimate of $0.98.
Who are Elme Communities' major shareholders?: Elme Communities' stock is owned by a variety of institutional and retail investors. Top institutional investors include FMR LLC (5.81%), Allspring Global Investments Holdings LLC (2.44%), William Blair Investment Management LLC (1.94%), Charles Schwab Investment Management Inc. (1.72%), Northern Trust Corp (1.25%) and Citigroup Inc. (1.21%).
How do I buy shares of Elme Communities?: Shares of ELME stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NYSE:ELME) was last updated on 12/1/2023 by MarketBeat.com Staff

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