Elme Communities (NYSE:ELME) price on Friday, February 07, fall -0.32% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $15.56.
A look at the stock’s price movement, the close in the last trading session was $15.61, moving within a range at $15.48 and $15.655. The beta value (5-Year monthly) was 0.909. Turning to its 52-week performance, $18.49 and $12.74 were the 52-week high and 52-week low respectively. Overall, ELME moved 5.35% over the past month.
Elme Communities’s market cap currently stands at around $1.37 billion, with investors looking forward to this quarter’s earnings report slated for in March. The company has a Forward Dividend ratio of 0.72, with its dividend yield at 4.63%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 60.5M for the company’s revenue for the quarter, with a low and high estimate of 60M and 60.88M respectively. The average forecast suggests up to a 2.80% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 241.05M, representing a 5.76% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ELME is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 0 recommend ELME as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ELME’s current price about 3.98% and 0.54% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 58.52, while 7-day volatility ratio is 2.14% and 1.94% in the 30-day chart. Further, Elme Communities (ELME) has a beta value of 0.90, and an average true range (ATR) of 0.32. Analysts have given the company’s stock an average 52-week price target of $19, forecast between a low of $19 and high of $19. Looking at the price targets, the low is -22.11% off current price level while to achieve the yearly target high, price needs to move -22.11%. Nonetheless, investors will most likely welcome a -22.11% jump to $19 which is the analysts’ median price.
If we refocus on Elme Communities (NYSE:ELME), historical trading data shows that trading volumes averaged 0.44 over the past 10 days and 583.10K over the past 3 months. The company’s latest data on shares outstanding shows there are 88.01 million shares.
The 1.20% of Elme Communities’s shares are in the hands of company insiders while institutional holders own 88.84% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.41 million on 2025-01-15, giving us a short ratio of 3.27. The data shows that as of 2025-01-15 short interest in Elme Communities (ELME) stood at 432.0 of shares outstanding, with shares short rising to 2.15 million registered in 2024-12-13. Current price change has pushed the stock 1.90% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ELME stock continues to rise going into the next quarter.
