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

Elme Communities (NYSE:ELME) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Thursday, June 20th will be given 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 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 payout ratio of -1,028.6% meaning 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 Up 0.9 %

Shares of ELME traded up $0.14 during mid-day trading on Thursday, reaching $15.31. 1,797,458 shares of the stock traded hands, compared to its average volume of 698,703. The stock has a fifty day simple moving average of $13.95 and a 200 day simple moving average of $13.96. Elme Communities has a 12-month low of $12.44 and a 12-month high of $17.19. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -24.87 and a beta of 0.87.

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.