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Elme Communities - ELME STOCK NEWS

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.

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Elme Communities (NYSE: ELME), a multifamily owner and operator, has announced the establishment of a new $500 million credit facility, replacing its prior revolving credit facility due to mature in August 2025. This new facility, effective from July 11, 2024, has a four-year term ending on July 10, 2028, and includes two 6-month extension options. It also features an accordion mechanism offering an additional $500 million capacity. The initial interest rate is set at adjusted daily SOFR plus 85 basis points, subject to Elme’s credit ratings. Steven Freishtat, Executive Vice President and CFO, highlighted the facility's role in strengthening liquidity and optimizing costs. Wells Fargo Bank serves as the administrative agent, with multiple financial institutions, including Wells Fargo Securities and KeyBanc Capital Markets, acting as joint lead arrangers and bookrunners.

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Elme Communities (NYSE: ELME), a value-oriented multifamily owner and operator based in Bethesda, Md., will release its second quarter earnings results for 2024 after market close on Thursday, August 1, 2024.

The company will conduct a conference call to discuss these results on Friday, August 2, 2024, at 10:00 am ET. A live webcast presentation will also be available. For those unable to attend, an instant replay of the conference call will be accessible until Friday, August 16, 2024, at 11:59 pm ET.

Access to the conference call and webcast can be obtained through the following: USA Toll Free Number: 888-506-0062, International Toll Number: 973-528-0011, Entry Code: 222443, Webcast: ir.elmecommunities.com. Instant replay can be accessed at USA Toll Free Number: 877-481-4010, International Toll Number: 919-882-2331, Conference ID: 50778, and Webcast Replay: ir.elmecommunities.com.

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Elme Communities, a multifamily REIT, reported first-quarter 2024 financial results. Net loss was $3.6 million, NAREIT FFO was $21.3 million, Core FFO was $19.9 million. NOI was $37.8 million. Lease Rate Growth was 2.3%. Average Occupancy was 94.4%. Available liquidity was $545 million. The company expects Core FFO for 2024 to range from $0.90 to $0.96 per fully diluted share.

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Elme Communities (ELME) will release its first quarter earnings results on May 1, 2024, followed by a conference call and webcast on May 2, 2024. Investors can access the call and webcast for insights into the company's performance.
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Elme Communities (NYSE: ELME) reported strong financial and operational results for the full year 2023 and fourth quarter. The company's net loss was $53.0 million for the full year, with NAREIT FFO up 27.9% and Core FFO up 10.2% compared to the prior year. NOI increased by 9.4%, and average effective monthly rent per home rose by 6.5%. In the fourth quarter, net loss was $3.1 million, with NAREIT FFO up 14.3%. The company's liquidity position was strong, with approximately $550 million available as of December 31, 2023. Elme provided guidance for 2024, expecting moderated NOI growth and Core FFO ranging from $0.90 to $0.96 per fully diluted share.
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Elme Communities (ELME) announced the income tax treatment of its 2023 dividend distributions, representing final income allocations. Shareholders are encouraged to consult with their personal tax advisors for specific tax treatment. The Ordinary Taxable Income Per Share is equal to the 199A dividend created by the 2017 Tax Cuts and Jobs Act. The total dividend distributions for 2023 are $0.71000 per share, with 33.29% being Ordinary Taxable Income Per Share and 33.29% being Section 199A Dividends Per Share. Shareholders should take note of these figures for tax planning purposes.
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Elme Communities (ELME) will release its fourth quarter earnings results on February 15, 2024, followed by a conference call and webcast on February 16, 2024. The company will provide access information for the call and webcast, as well as details for the instant replay. Investors and analysts can tune in to discuss the financial performance of Elme Communities.
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Elme Communities (NYSE: ELME) reported financial and operating results for Q3 2023. Net loss was $43.6 million, NAREIT FFO was $20.1 million, and Core FFO was $21.4 million. Same-store multifamily NOI increased by 7.3%. The company acquired Elme Druid Hills for $108.0 million. Available liquidity was approximately $560 million. The company provided 2023 guidance with expected high single-digit same-store multifamily NOI growth.
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Elme Communities (NYSE:ELME) will release Q3 earnings results on October 26, 2023, followed by a conference call on October 27, 2023. Webcast and replay available.
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Elme Communities appoints Susan Carras as independent director, increasing female representation on the Board to 50%
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FAQ

What is Elme Communities?

Elme Communities is a real estate investment trust (REIT) that owns and operates office, retail, and multifamily properties in the Washington, DC metro area.

Where is Elme Communities' portfolio located?

Elme Communities' properties are primarily located in the Washington, DC metropolitan area, near major transportation nodes.

What types of properties does Elme Communities own?

Elme Communities owns office, retail, and multifamily properties.

How does Elme Communities generate income?

Elme Communities generates income through rental revenue from long-term leases with tenants in their office, retail, and multifamily properties.

Who are the primary tenants of Elme Communities?

The primary tenants include banking, consulting, law, and financial services firms.

What is the enterprise value of Elme Communities?

Elme Communities has an enterprise value of $3 billion.

How can I access Elme Communities' financial updates?

Financial updates, including earnings calls, are available on the Investor section of Elme Communities' website.

What recent achievements has Elme Communities made?

Recent achievements include successful leasing of office space, ongoing development of multifamily assets, and strategic partnerships.

How long has Elme Communities been operating?

Elme Communities has over five decades of operating history exclusively in the Washington, DC area.

Does Elme Communities focus on sustainability?

Yes, Elme Communities is committed to sustainable practices and community engagement.

Elme Communities

NYSE:ELME

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1.39B
88.00M
1.39%
88.92%
1.64%
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