Elme Communities (ELME) to Release Earnings on Thursday

Elme Communities (NYSE:ELME) will likely be announcing its earnings results after the market closes on Thursday, February 13th. Analysts expect the company to announce earnings of ($0.03) per share and revenue of $60.50 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Elme Communities (NYSE:ELME) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.27). The business had revenue of $61.06 million during the quarter, compared to the consensus estimate of $60.31 million. Elme Communities had a negative return on equity of 1.17% and a negative net margin of 5.51%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. On average, analysts expect Elme Communities to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Elme Communities Stock Performance

ELME stock opened at $15.68 on Thursday. The company has a 50-day simple moving average of $15.39 and a 200 day simple moving average of $16.52. The company has a market capitalization of $1.38 billion, a P/E ratio of -104.55 and a beta of 0.91. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.63. Elme Communities has a fifty-two week low of $12.74 and a fifty-two week high of $18.49.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ELME. Truist Financial raised shares of Elme Communities from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Wolfe Research began coverage on Elme Communities in a research report on Monday, October 21st. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. cut Elme Communities from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $18.00 in a research report on Tuesday, December 17th.

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.