Elme Communities reports results for the quarter ended June 30 - Earnings Summary

• Elme Communities ELME reported a quarterly adjusted loss of 4 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of -3 cents. The lone analyst forecast for the quarter was for a loss of 4 cents per share.

• Revenue rose 3.3% to $62.10 million from a year ago; analysts expected $61.45 million.

• Elme Communities's reported EPS for the quarter was a loss of 4 cents​.

• The company reported a quarterly loss of $3.57 million.

• Elme Communities shares had risen by 3.3% this quarter and gained 7.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.6% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy," 4 "hold" and no "sell" or "strong sell." The average consensus recommendation for the residential reits peer group is "buy."

• Wall Street's median 12-month price target for Elme Communities is $18.00, about 8.9% above its last closing price of $16.40

This summary was machine generated from LSEG data August 5 at 11:53 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)