Elme Communities (ELME)
NYSE NYSE Primary 
XFRA 
Elme (ELME) Upgraded to Buy: Here's What You Should Know
Elme (ELME) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Elme Communities (ELME) Q2 2024 Earnings Call Transcript
Elme Communities (NYSE:ELME ) Q2 2024 Earnings Conference Call August 2, 2024 9:00 AM ET Company Participants Amy Hopkins - VP, IR Paul McDermott - President & CEO Tiffany Butcher - COO Steven Freishtat - CFO Grant Montgomery - VP, Research Conference Call Participants Cooper Clark - Wells Fargo Anthony Paolone - JPMorgan Michael Gorman - BTIG Ann Chan - Green Street Operator Greetings, and welcome to the Elme Communities Second Quarter 2024 Earnings Conference Call. As a reminder, today's call is being recorded.
Elme (ELME) Q2 FFO Meet Estimates
Elme (ELME) came out with quarterly funds from operations (FFO) of $0.23 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.24 per share a year ago.
Elme Communities: Doesn't Seem Worth The Risks
Elme Communities owns and operates apartment communities in Washington, DC and Atlanta. Though multifamily landlords have been enjoying a strong tailwind due to the high cost of financing the purchase of a home today, this REIT has struggled. While the shares are trading at a discount to NAV, there's a good chance we won't see a recovery soon enough because of risks that the market has correctly assessed.
Amalgamated Bank Cuts Stock Position in Elme Communities (NYSE:ELME)
Amalgamated Bank trimmed its position in Elme Communities (NYSE:ELME – Free Report) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,310 shares of the company’s stock after selling 911 shares during the period. Amalgamated Bank’s holdings in Elme Communities were worth $486,000 as of its most recent SEC filing. Several other institutional investors also recently bought and sold shares of ELME. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Elme Communities in the third quarter valued at $2,597,000. Qube Research & Technologies Ltd grew its stake in Elme Communities by 486.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 181,428 shares of the company’s stock valued at $2,475,000 after acquiring an additional 150,470 shares during the last quarter. Employees Retirement System of Texas purchased a new position in Elme Communities during the 3rd quarter valued at about $1,228,000. Regency Capital Management Inc. DE acquired a new position in Elme Communities during the fourth quarter worth about $922,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Elme Communities by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,508,433 shares of the company’s stock valued at $20,575,000 after purchasing an additional 51,100 shares in the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds. Analysts Set New Price Targets Separately, Truist Financial lifted their price objective on Elme Communities from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, May 15th. Check Out Our Latest Stock Analysis on Elme Communities Elme Communities Stock Up 0.5 % NYSE:ELME opened at $16.09 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -26.38 and a beta of 0.87. Elme Communities has a one year low of $12.44 and a one year high of $17.19. The stock has a 50-day simple moving average of $14.56 and a 200 day simple moving average of $14.15. Elme Communities Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Thursday, June 20th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Thursday, June 20th. Elme Communities’s dividend payout ratio is presently -118.03%. About Elme Communities (Free Report) 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. Read More Five stocks we like better than Elme Communities What is a SEC Filing? MarketBeat Week in Review – 5/13 – 5/17 What is a Dividend Harvesting Strategy and How Can Investors Profit from it? Take-Two Interactive Software Offers 2nd Chance for Investors What Does a Gap Up Mean in Stocks? How to Play the Gap Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook Want to see what other hedge funds are holding ELME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elme Communities (NYSE:ELME – Free Report).
