Elme Communities (NYSE: ELME) stock fell -1.44% on Thursday to $15.09 against a previous-day closing price of $15.31. With 0.54 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.6 million shares. During the session, the REIT – Residential company that operates in wider Real Estate sector, reached to the highest price of $15.41 whereas the lowest price it dropped to was $15.04. The 52-week range on ELME shows that it touched its highest point at $24.44 and its lowest point at $15.27 during that stretch. It currently has a 1-year price target of $19.00. With its current market cap of 1.31 billion, ELME has annualized dividend of $0.72 while the current yield stands at 4.77%. Beta for the stock currently stands at 0.97.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ELME was down-trending over the past week, with a drop of -4.01%, but this was down by -13.18% over a month. Three-month performance dropped to -20.41% while six-month performance fell -22.77%. The stock lost -36.11% in the past year, while it has lost -15.22% so far this year. A look at the trailing 12-month EPS for ELME yields -0.31 with Next year EPS estimates of 0.09. For the next quarter, that number is 0.01. This implies an EPS growth rate of 43.80% for this year and 50.00% for next year. EPS is expected to grow by 3.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -47.80%.
Float and Shares Shorts:
At present, 87.65 million ELME shares are outstanding with a float of 86.48 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.02 million, which was 2.31% higher than short shares on Mar 30, 2023. In addition to Mr. Paul T. McDermott as the firm’s Chairman of Board, Pres & CEO, Ms. Susan Lilly Gerock serves as its Sr. VP of Information Technology & Chief Information Officer.
Through their ownership of 92.50% of ELME’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.78% of ELME, in contrast to 27.29% held by mutual funds. Shares owned by individuals account for 2.69%. As the largest shareholder in ELME with 16.70% of the stake, BlackRock Fund Advisors holds 14,649,810 shares worth 14,649,810. A second-largest stockholder of ELME, The Vanguard Group, Inc., holds 14,369,707 shares, controlling over 16.39% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in ELME, holding 5,717,843 shares or 6.52% stake. With a 7.25% stake in ELME, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,358,389 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 4.38% of ELME stock, is the second-largest Mutual Fund holder. It holds 3,843,982 shares valued at 66.23 million. Vanguard Total Stock Market ETF holds 3.15% of the stake in ELME, owning 2,758,848 shares worth 47.53 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, ELME reported revenue of $51.38M and operating income of -$2.72M. The EBITDA in the recently reported quarter was $21.32M and diluted EPS was -$0.10.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ELME since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ELME analysts setting a high price target of $20.00 and a low target of $18.00, the average target price over the next 12 months is $19.00. Based on these targets, ELME could surge 32.54% to reach the target high and rise by 19.28% to reach the target low. Reaching the average price target will result in a growth of 25.91% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ELME stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 1,540 shares were bought while 0 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 325,556 while 142,880 shares were sold.