ELME Stock Summary and Trading Ideas (Elme Communities | NYSE:ELME)

Elme Communities is a real estate investment trust engaged in owning and operating properties in the greater Washington DC metropolitan area. The company's real estate portfolio is comprised of office, retail, and multifamily properties located near transportation nodes. Washington REIT derives nearly all of its income in the form of rental revenue from tenants organized into long-term leases. The company's office assets contribute the majority of this income, while the rest is split fairly evenly between its retail and multifamily locations. Washington REIT's tenants are banking, consulting, law, and financial services firms.

Elme Communities trades on the NYSE stock market under the symbol ELME.

As of December 13, 2024, ELME stock price declined to $16.34 with 499,099 million shares trading.

ELME has a beta of 0.49, meaning it tends to be less sensitive to market movements. ELME has a correlation of 0.07 to the broad based SPY ETF.

ELME has a market cap of $1.44 billion. This is considered a Small Cap stock.

Last quarter Elme Communities reported $61 million in Revenue and $.23 earnings per share. This beat revenue expectation by $725,000 and missed earnings estimates by -$.01.

The top ETF exchange traded funds that ELME belongs to (by Net Assets): IJR, VNQ, VTI, IWM, VB.

ELME has underperformed the market in the last year with a price return of +24.4% while the SPY ETF gained +31.7%. ELME has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -7.9% and -3.6%, respectively, while the SPY returned +8.4% and +0.9%, respectively.

ELME support price is $16.29 and resistance is $16.77 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ELME shares will trade within this expected range on the day.