Elme Communities said on April 27, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Previously, the company paid $0.18 per share.
Shares must be purchased before the ex-div date of June 21, 2023 to qualify for the dividend. Shareholders of record as of June 22, 2023 will receive the payment on July 6, 2023.
At the current share price of $17.23 / share, the stock's dividend yield is 4.18%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.20%, the lowest has been 2.60%, and the highest has been 6.59%. The standard deviation of yields is 0.95 (n=236).
The current dividend yield is 0.02 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -2.36. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.40%.
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What is the Fund Sentiment?
There are 465 funds or institutions reporting positions in Elme Communities. This is a decrease of 14 owner(s) or 2.92% in the last quarter. Average portfolio weight of all funds dedicated to ELME is 0.12%, a decrease of 9.68%. Total shares owned by institutions decreased in the last three months by 1.45% to 89,545K shares. 
The put/call ratio of ELME is 0.39, indicating a bullish outlook.
Analyst Price Forecast Suggests 12.48% Upside
As of April 24, 2023, the average one-year price target for Elme Communities is 19.38. The forecasts range from a low of 18.18 to a high of $21.00. The average price target represents an increase of 12.48% from its latest reported closing price of 17.23.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Elme Communities is 234MM, an increase of 7.59%. The projected annual non-GAAP EPS is -0.05.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 6,485K shares representing 7.40% ownership of the company. In it's prior filing, the firm reported owning 6,382K shares, representing an increase of 1.59%. The firm decreased its portfolio allocation in ELME by 6.29% over the last quarter.
T. Rowe Price Investment Management holds 4,753K shares representing 5.42% ownership of the company. In it's prior filing, the firm reported owning 4,762K shares, representing a decrease of 0.18%. The firm decreased its portfolio allocation in ELME by 2.82% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 3,898K shares representing 4.44% ownership of the company. In it's prior filing, the firm reported owning 3,962K shares, representing a decrease of 1.63%. The firm decreased its portfolio allocation in ELME by 9.36% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 3,051K shares representing 3.48% ownership of the company. In it's prior filing, the firm reported owning 3,056K shares, representing a decrease of 0.17%. The firm decreased its portfolio allocation in ELME by 1.04% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,727K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 2,678K shares, representing an increase of 1.80%. The firm decreased its portfolio allocation in ELME by 4.67% over the last quarter.
Elme Communities Background Information
(This description is provided by the company.)
WashREIT owns and operates uniquely positioned real estate assets in the D.C. Metro region. Its portfolio of 43 properties includes approximately 3.4 million square feet of commercial space and 6,863 multifamily apartment units across the region. The company currently has an enterprise value of approximately $3.0 billion. With a track record of driving returns and delivering satisfaction, WashREIT is a trusted authority in one of the nation’s most competitive real estate markets.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
