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) generates a distinct stream of news as it transitions from an operating multifamily REIT into an entity executing a shareholder-approved Plan of Sale and Liquidation. Company announcements now center on asset sales, special liquidating distributions, and the financial and operational results of its remaining properties in the Washington, DC and Atlanta metro regions.
News coverage for Elme includes quarterly earnings releases that detail real estate rental revenue, same-store multifamily net operating income, occupancy trends, lease rate growth, and performance of its single commercial asset, Watergate 600. These updates provide insight into how the portfolio performs while the company advances its wind-down strategy and manages its remaining multifamily and commercial assets.
Another major category of ELME news involves strategic transactions and capital structure changes. Press releases and SEC filings have described the completion of a large portfolio sale of 19 multifamily communities to an affiliate of Cortland Partners, the creation of a new senior secured term loan with Goldman Sachs Bank USA, and the repayment or discharge of prior credit facilities and notes. Investors following ELME news can track how these transactions affect liquidity, leverage, and the timing of liquidating distributions.
Elme’s communications also highlight governance and shareholder actions, including the special meeting at which shareholders approved both the portfolio sale proposal and the Plan of Sale and Liquidation. Subsequent news has addressed the declaration of an initial special liquidating distribution and the New York Stock Exchange’s due bill procedures tied to that payment. For investors and analysts, the ELME news feed offers a focused view of the company’s progress in selling assets, returning capital, and managing the final stages of its life cycle. Bookmarking this page allows readers to monitor each step of the liquidation process as new releases and filings are issued.
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.
Elme Communities (NYSE: ELME) reported Q3 2024 financial results with a net loss of $3.0 million ($0.03 per share). The company achieved NAREIT FFO of $20.5 million ($0.23 per share) and Core FFO of $20.7 million ($0.23 per share). Same-store multifamily NOI increased by 2.3% year-over-year, with effective blended lease rate growth of 2.1%. The company maintained strong occupancy at 95.2% and improved retention to 66%. Available liquidity stood at $337 million, with a Net Debt to Adjusted EBITDA ratio of 5.6x. The company tightened its 2024 Core FFO guidance range to $0.92-$0.94 per share.
Elme Communities (NYSE:ELME), a value-oriented multifamily owner and operator, has announced it will release its third quarter 2024 earnings results after market close on Monday, November 4, 2024. The company will host a conference call to discuss these results on Tuesday, November 5, 2024, at 10:00 am ET, which will include a webcast presentation with slides.
Conference call access details have been provided, including toll-free and international numbers, as well as an entry code. An instant replay of the call will be available until Tuesday, November 19, 2024, at 11:59 pm ET. Elme Communities focuses on providing quality, affordable homes to mid-market demand in the Washington, DC metro and Sunbelt areas, aiming to build long-term shareholder value.
Elme Communities (NYSE: ELME) reported its Q2 2024 financial results. Key highlights include:
- Net loss of $3.5 million, or $0.04 per diluted share
- NAREIT FFO of $20.4 million, or $0.23 per diluted share
- Core FFO of $20.5 million, or $0.23 per diluted share
- Net Operating Income (NOI) of $38.1 million
- Same-store multifamily NOI increased by 1.3% year-over-year
- Effective blended Lease Rate Growth of 3.2% for Same-Store Portfolio
- Average Effective Monthly Rent Per Home increased 2.5% year-over-year
- Same-store multifamily Average Occupancy was 94.6%, down 0.8% year-over-year
The company tightened its 2024 Core FFO guidance range to $0.91 to $0.95 per fully diluted share and declared a quarterly dividend of $0.18 per share.
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.