Elme Communities Stock Price, News & Analysis

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.

Elme Communities (NYSE:ELME) will announce its fourth quarter earnings results after the market closes on February 16, 2023. A conference call is scheduled for February 17, 2023, at 10:00 am ET, accessible via USA and international toll numbers. An instant replay of the call will be available until March 3, 2023. Elme, focused on providing quality homes for middle-income renters, owns approximately 8,900 apartment homes in the DC metro and Sunbelt, alongside 300,000 square feet of commercial space, aiming to deliver long-term value for shareholders.

Elme Communities (NYSE: ELME) announced the retirement of CFO Stephen E. Riffee at the end of February 2023 and detailed its CFO succession plan. Steven Freishtat, currently Vice President of Finance, is set to replace Riffee, bringing extensive experience from his tenure at Elme and previous roles at Marriott and CapitalSource. Additionally, Drew Hammond will be promoted to Senior Vice President, Chief Accounting Officer, and Kelly O’Shields to Vice President, Finance. The leadership transition aims to maintain the company's growth trajectory in the multifamily real estate sector.