Elme Communities (NYSE:ELME) Plans Quarterly Dividend of $0.18

Elme Communities (NYSE:ELME) declared a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Investors of record on Wednesday, September 17th will be given a dividend of 0.18 per share on Friday, October 3rd. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 17th.

Elme Communities has a payout ratio of -800.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Elme Communities to earn $0.97 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 74.2%.

Elme Communities Price Performance

NYSE ELME opened at $17.13 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.51 and a quick ratio of 0.51. The stock’s fifty day moving average price is $16.51 and its 200 day moving average price is $16.30. Elme Communities has a 1 year low of $13.95 and a 1 year high of $18.49. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -114.19 and a beta of 1.02.

Elme Communities (NYSE:ELME) last released its earnings results on Tuesday, August 5th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $62.10 million for the quarter, compared to the consensus estimate of $61.63 million. Elme Communities had a negative return on equity of 1.33% and a negative net margin of 5.78%.The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. As a group, equities research analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Company Profile

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.