Elme Communities Stock Price, News & Analysis

Elme Communities (NYSE: ELME) has announced a major strategic transaction and liquidation plan. The company has entered into a $1.6 billion agreement with Cortland Partners to sell 19 multifamily properties, with plans to sell its remaining nine multifamily assets and Watergate 600.

Following shareholder approval, Elme expects to distribute $14.68 to $15.00 per share initially, comprising a special distribution from the Cortland sale and a $0.18 quarterly dividend. Additional liquidating distributions of $2.90 to $3.50 per share are anticipated from the sale of remaining assets, bringing total estimated distributions to $17.58-$18.50 per share.

The transaction is expected to close in Q4 2025, subject to shareholder approval. The company has secured a $520 million debt commitment from Goldman Sachs for the remaining assets.

Elme Communities (NYSE:ELME), a value-oriented multifamily owner and operator, has scheduled its second quarter 2025 earnings release for August 5, 2025 after market close. The company will host a conference call to discuss the results on August 6, 2025, at 10:00 am ET.

Investors can access the conference call via USA toll-free number (888-506-0062) or international toll number (973-528-0011) using entry code 990450. A webcast will be available at ir.elmecommunities.com. A replay will be accessible until August 20, 2025, through both phone and webcast options.

Elme Communities (NYSE: ELME) reported its Q1 2025 financial results with mixed performance. The company posted a net loss of $(0.05) per share, slightly higher than $(0.04) in Q1 2024, while Core FFO increased to $0.24 per share from $0.23. Key operational highlights include a 5.5% increase in same-store multifamily NOI and improved occupancy at 94.8%, up 0.5% year-over-year. The company achieved a 1.9% blended lease rate growth, with renewal rates up 5.0% despite new lease rates declining 2.0%. The company maintained strong liquidity of $324 million and a Net Debt to Adjusted EBITDA ratio of 5.6x. Elme reiterated its 2025 guidance, expecting Core FFO between $0.91-$0.97 per share. The Board declared a quarterly dividend of $0.18 per share, payable on July 3, 2025. Additionally, the company's strategic review process announced earlier remains ongoing.

Marcus & Millichap (NYSE: MMI) has appointed Andrew Leahy as senior vice president and national director of its Institutional Property Advisors (IPA) multifamily division. Leahy brings over 20 years of experience in institutional multifamily investment and has executed transactions worth over $6 billion throughout his career.

In his new role, Leahy will lead IPA advisory teams across North America, focusing on service enhancement and market expansion. His previous experience includes leadership positions at Elme Communities (NYSE: ELME) and The Rockefeller Group, where he managed acquisitions for domestic and global private equity investors. He began his career at The Blackstone Group.

Marcus & Millichap reported closing 7,836 transactions with a sales volume of approximately $49.6 billion in 2024, with 1,712 investment sales and financing professionals across more than 80 offices.

Elme Communities (NYSE:ELME), a value-oriented multifamily owner and operator, has scheduled its first quarter 2025 earnings release for Thursday, May 1st, 2025, after market close. The company will host a conference call to discuss the results on Friday, May 2nd, 2025, at 10:00 am ET, accompanied by a webcast presentation with slides.

Investors can access the conference call through USA Toll Free (888-506-0062) or International Toll (973-528-0011) numbers using Entry Code 1940443. A replay of the conference call will be available until May 16th, 2025, at 11:59 pm ET, accessible via USA Toll Free (877-481-4010) or International Toll (919-882-2331) numbers with Conference ID 52224. Both the live webcast and replay will be available at ir.elmecommunities.com.

Elme Communities (NYSE: ELME) has appointed Ron D. Sturzenegger to its Board of Trustees as an independent trustee, expanding the board to eight members. Sturzenegger brings over 30 years of finance and real estate experience, having previously served as Managing Director and Global Head of Real Estate, Gaming and Lodging Investment Banking at Bank of America.

The appointment comes as part of the company's ongoing strategic alternatives evaluation process, with Sturzenegger joining the board's transaction committee. The company has also entered into a cooperation agreement with shareholder Argosy-Lionbridge Management (ALM). As part of this agreement, Elme has agreed to waive its option to classify its Board under the Maryland Unsolicited Takeover Act (MUTA), demonstrating enhanced corporate governance practices.

Elme Communities (NYSE: ELME) reported its Q4 and full-year 2024 results, announcing a strategic review to maximize shareholder value. The company reported a Q4 net loss of $3.0 million ($0.03 per share) and Core FFO of $20.7 million ($0.24 per share). For full-year 2024, net loss was $13.1 million ($0.15 per share) with Core FFO of $81.8 million ($0.93 per share).

Key operational highlights include a 1.7% increase in Q4 same-store multifamily NOI and 1.9% growth in Average Effective Monthly Rent Per Home. The company maintained strong occupancy at 95.0% during Q4. For 2025, Elme projects Core FFO between $0.91-$0.97 per share, with same-store multifamily NOI growth of 1.5-3.5%.

The Board has initiated a formal evaluation of strategic alternatives with Goldman Sachs and Jones Lang LaSalle Securities as financial advisors. The company maintains approximately $330 million in available liquidity and announced a quarterly dividend of $0.18 per share.

Elme Communities (NYSE:ELME), a multifamily real estate investment trust, has scheduled its fourth quarter 2024 earnings release for Thursday, February 13, 2025, after market close. The company will host a conference call to discuss the results on Friday, February 14, 2025, at 10:00 am ET, accompanied by a webcast presentation with slides.

Elme Communities operates apartment homes in the Washington, DC metro area and the Sunbelt, focusing on providing quality, affordable housing to mid-market demand. The company aims to create long-term shareholder value through its commitment to elevating residential standards with superior quality, service, and experience.

Elme Communities (NYSE:ELME) has disclosed the income tax treatment of its 2024 dividend distributions. The company paid a total dividend of $0.72 per share throughout 2024, distributed in four quarterly payments of $0.18 each on January 4, April 3, July 3, and October 3.

The tax breakdown of each dividend payment consists of: 10.616% Ordinary Taxable Income ($0.01911), 10.616% Section 199A Dividends ($0.01911), 10.547% Capital Gains ($0.01898), and 78.837% Return of Capital ($0.14191).

Elme Communities is a multifamily REIT that owns and operates approximately 9,400 apartment homes in the Washington, DC and Atlanta metro regions, along with about 300,000 square feet of commercial space.