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

Elme Communities (NYSE:ELME) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Thursday, June 20th will be paid a dividend of 0.18 per share on Wednesday, July 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Thursday, June 20th.

Elme Communities has decreased its dividend payment by an average of 15.7% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Elme Communities has a dividend payout ratio of -1,028.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Elme Communities to earn $0.91 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 79.1%.

Elme Communities Stock Performance

Shares of NYSE:ELME traded up $0.14 on Thursday, reaching $15.31. The company’s stock had a trading volume of 1,797,458 shares, compared to its average volume of 698,703. Elme Communities has a 52-week low of $12.44 and a 52-week high of $17.19. The stock has a market capitalization of $1.35 billion, a P/E ratio of -24.87 and a beta of 0.87. The stock’s 50-day moving average is $13.95 and its two-hundred day moving average is $13.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.67 and a quick ratio of 0.67.

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.