Truist raised the firm’s price target on Elme Communities to $18 from $16 and keeps a Hold rating on the shares. The company reported higher quarterly earnings than the firm projected and it’s improved estimates are driven by the REIT’s better Washington DC area fundamentals and lower interest rates, the analyst tells investors in the research note. Truist is raising its FY24 FFO view by 2c to 94c and its FY25 FFO view by 4c to 95c.
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