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Investing.com - Truist Securities downgraded Elme Communities (NYSE:ELME), a $1.51 billion market cap real estate company currently trading at $17.10, from Buy to Hold and significantly reduced its price target to $2.00 from $18.00 on Thursday.
The downgrade follows Elme Communities’ announcement last month that it plans to sell 19 properties and market its remaining 10 properties for sale.
The real estate company expects these sales to generate total shareholder distributions between $17.58 and $18.50 per share by the end of next year.
Truist Securities believes the planned property sales will likely occur and considers the high end of the distribution range achievable.
The firm’s Hold rating reflects its assessment that investors may find better risk-adjusted returns in other investments despite the expected distributions from Elme Communities.
In other recent news, Elme Communities has reported its financial results for the second quarter of 2025. The company’s earnings per share (EPS) stood at -$0.04, aligning with analysts’ expectations. Revenue for the quarter slightly surpassed forecasts, reaching $62.1 million against the anticipated $61.56 million. These results mark a period of stable financial performance for Elme Communities. The earnings announcement reflects the company’s ability to meet market predictions, providing a degree of reassurance to investors. There were no notable analyst upgrades or downgrades reported in conjunction with these earnings results. Elme Communities’ financial performance continues to be a focal point for stakeholders, highlighting the importance of meeting or exceeding market forecasts. These developments are part of the company’s ongoing financial reporting.
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