Welcome to our dedicated page for Elme Communities news (Ticker: ELME), a resource for investors and traders seeking the latest updates and insights on Elme Communities stock.
Elme Communities (NYSE: ELME), formerly known as Washington REIT, is a prominent real estate investment trust (REIT) specializing in the ownership and operation of high-quality office, retail, and multifamily properties in the Washington, DC metropolitan area. Elme Communities boasts a robust portfolio that includes 49 properties, encompassing over 6 million square feet of commercial space and 4,480 multifamily apartment units. With an enterprise value of $3 billion, the company has established itself as a significant player in one of the nation's key gateway markets.
Elme Communities' strategy centers on value creation through strategic acquisitions, development, and active asset management. The company focuses on properties located near major transportation nodes, ensuring convenience and accessibility for its tenants. Nearly all of its income is derived from rental revenue generated through long-term leases with a diverse mix of tenants, including banking, consulting, law, and financial services firms.
Recent achievements of Elme Communities include the successful leasing of significant office space to high-profile tenants, ongoing development projects aimed at enhancing the quality and value of their multifamily assets, and strategic partnerships that bolster their market position. Their commitment to sustainable practices and community engagement further underscores their dedication to long-term value creation.
For investors and stakeholders, Elme Communities offers comprehensive financial updates, with the latest news and developments readily accessible on their website. The company consistently delivers transparent and timely information, including earnings calls, which can be replayed online. As a local sharp-shooter with over five decades of operating history exclusively in the Washington, DC area, Elme Communities remains a trusted and influential player in the real estate market.
Elme Communities (NYSE:ELME) will announce its first quarter earnings on April 27, 2023, after market close, followed by a conference call on April 28, 2023, at 10:00 am ET. Investors can access the call via toll-free numbers and a live webcast. The instant replay of the conference will be available until May 12, 2023. Elme Communities focuses on providing quality housing for middle-income renters in the Washington, DC metro area and the Sunbelt, managing about 8,900 apartments and 300,000 square feet of commercial space. The company emphasizes long-term value creation for shareholders.
Elme Communities (NYSE: ELME) reported its financial results for the year ending December 31, 2022, showing a net loss of $30.9 million, equivalent to $0.36 per diluted share. Despite the loss, NAREIT FFO reached $60.9 million ($0.69 per diluted share) and Core FFO totaled $77.3 million ($0.88 per diluted share). Notably, Net Operating Income (NOI) was $135.4 million, with a year-over-year same-store NOI increase of 8.8%. The effective blended lease rate grew by 9.4%. The company also announced a 6% dividend increase, with a quarterly payout of $0.18 scheduled for April 5, 2023. Elme plans to transition approximately 40% of its portfolio to internal management soon.
Elme Communities (NYSE:ELME) announced the income tax treatment for its 2022 dividend distributions, urging shareholders to consult tax advisors for personalized advice. Key figures include a total dividend of $0.68000 per share, with an ordinary taxable income per share of $0.13636. The breakdown reveals distributions on 1/5, 4/5, 7/6, and 10/5, each amounting to $0.17000 in gross distributions. The company, focused on providing quality housing for middle-income renters, operates approximately 8,900 apartment homes and aims to deliver long-term value.
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