BETHESDA, Md., April 07, 2025 (GLOBE NEWSWIRE) -- Elme Communities (the “Company” or “Elme”) (NYSE:ELME), a value-oriented multifamily owner and operator, will release first quarter earnings results after market close on Thursday, May 1, 2025. A conference call to discuss these results will be conducted on Friday, May 2, 2025, at 10:00 am ET. There will also be a webcast presentation with slides. Conference call and webcast access information is as follows: USA Toll Free Number:888-506-0062International Tol ...

Group 1 - Elme Communities, previously known as Washington REIT, has undergone a significant transformation since April 2021, shifting its focus from retail and office properties to other asset classes [2] - The company is now positioned to offer sustainable portfolio income, diversification, and inflation hedging through its income-producing asset classes [1] Group 2 - The article emphasizes the importance of due diligence for investors, encouraging them to draw their own conclusions before making investment decisions [4][5]

Core Viewpoint - Elme Communities has appointed Ron D. Sturzenegger as an independent trustee to its Board of Trustees, enhancing the Board's expertise and commitment to shareholder value [1][3][5] Board Composition - Following the appointment of Mr. Sturzenegger, the Board now consists of eight trustees, with seven being independent [1][3] - The Board aims to regularly refresh its composition to maximize value for shareholders [3] Ron D. Sturzenegger's Background - Mr. Sturzenegger has over 30 years of experience in finance and real estate, previously serving as Managing Director and Global Head of Real Estate, Gaming and Lodging Investment Banking at Bank of America [2][7] - He currently holds positions on the Boards of several funds, including KBS REIT III and various StepStone Private Funds [2][7] Strategic Initiatives - Mr. Sturzenegger will serve on the transaction committee of the Board, which is overseeing a formal evaluation of strategic alternatives [3] - The Company has entered into a cooperation agreement with Argosy-Lionbridge Management, LLC, a shareholder, to enhance corporate governance practices [4][5] Corporate Governance - Elme Communities is opting out of the Maryland Unsolicited Takeover Act (MUTA) to improve its corporate governance [5] - The cooperation agreement includes customary standstill and voting provisions [5] Company Overview - Elme Communities is a multifamily real estate investment trust (REIT) that operates approximately 9,400 apartment homes and 300,000 square feet of commercial space in the Washington, DC and Atlanta metro areas [12]

Financial Data and Key Metrics Changes - The company announced a formal review to evaluate strategic alternatives due to shares trading at a discount to the estimated private market value [7][9] - Same-store blended lease rate growth averaged 1.3% in Q4 2024 and 1.8% in January 2025 [18] - Same-store occupancy averaged 95% during Q4 2024, up 20 basis points sequentially [19] Business Line Data and Key Metrics Changes - The company completed about 500 full renovations in 2024 at an average cost of $17,000 per unit, achieving an average renovation ROI of approximately 17% [20] - In 2025, the company expects to complete another 500 full renovations at similar costs, targeting a 17% ROI [20][21] Market Data and Key Metrics Changes - The Washington Metro area was a top-performing market in 2024, with solid demand trends and low net inventory ratios [14] - Elme submarkets are projected to face less supply pressure than the U.S. and Sunbelt markets, with average annual net inventory growth of 2.2% [16] Company Strategy and Development Direction - The company is focused on maximizing shareholder value through strategic reviews and operational initiatives [6][9] - The company aims to capture additional NOI growth from managed Wi-Fi initiatives, expecting $300,000 to $600,000 in 2025 from Phase 1 [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth prospects of the Washington Metro portfolio, citing a highly skilled workforce and advanced technology infrastructure [15] - The company anticipates same-store multifamily revenue growth to range from 2.1% to 3.6% in 2025 [23] Other Important Information - The company has no debt maturing before 2028 and maintains a strong balance sheet with an annualized adjusted net debt to EBITDA of 5.7 times [27] - Non-controllable expenses are projected to grow by 2% to 3%, while controllable expenses are expected to grow between 4% and 5% [25] Q&A Session Summary Question: Impact of new administration on leasing or rents - Management noted that past government changes had significant impacts, but current growth is driven by the private sector, particularly in Northern Virginia [35][37] Question: Market cap rates for typical assets - Management indicated that core deals are seeing cap rates between 4.5% to 5%, with value-add deals around 5% to 5.5% [42][43] Question: Seasonal growth outlook - Management expects normal seasonal growth in the Washington D.C. area, with peak leasing during spring and summer [53] Question: Update on Watergate leasing prospects - Management is optimistic about leasing activity at Watergate and is in discussions with tenants for renewals [61][63] Question: Indicators of leasing decisions amid uncertainty - Management reported normal seasonal leasing trends without atypical impacts on traffic or leasing metrics [79] Question: Sequential growth rate in Atlanta - Management confirmed that half of the sequential growth in Atlanta was due to bad debt improvement, with the other half from business interruption insurance proceeds [82]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________ FORM 10-K ___________________________________________________ (Exact name of registrant as specified in its charter) ___________________________________________________ Maryland 53-0261100 (State of incorporation) (IRS Employer Identification Number) 7550 WISCONSIN AVE, SUITE 900, BETHESDA, MD 20814 (Address of principal executive office) (Zip code) ☒ ANNUAL REPORT PURSUANT TO SECTION ...

Investor Presentation February 2025 This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities of Elme Communities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of such securities under the securities law of any such jurisdiction. If Elme Communities were to conduct an offering of securities in the future, it will be made under an effective ...

Group 1 - Elme (ELME) reported quarterly funds from operations (FFO) of $0.23 per share, missing the Zacks Consensus Estimate of $0.24 per share, and down from $0.24 per share a year ago, representing an FFO surprise of -4.17% [1] - Over the last four quarters, Elme has surpassed consensus FFO estimates just once, while it posted revenues of $61.26 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 1.13% compared to $58.85 million a year ago [2] - The current consensus FFO estimate for the coming quarter is $0.23 on $61.25 million in revenues, and for the current fiscal year, it is $0.95 on $247.64 million in revenues [7] Group 2 - The sustainability of Elme's stock price movement will depend on management's commentary on the earnings call and the trends in estimate revisions [3][4] - The estimate revisions trend for Elme is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] - The REIT and Equity Trust - Residential industry, to which Elme belongs, is currently in the bottom 22% of Zacks industries, suggesting that the outlook for the industry can significantly impact stock performance [8]

Amy Hopkins Bethesda, MD 20814 Vice President, Investor Relations Tel 202-774-3253 E-Mail: ahopkins@elmecommunities.com Fax 301-984-9610 CONTACT: 7550 Wisconsin Ave, Suite 900 www.elmecommunities.com February 13, 2025 Elme Communities Announces Fourth Quarter and Full Year 2024 Results Board of Trustees Initiates Review of Strategic Alternatives to Maximize Shareholder Value Elme Communities (the "Company" or "Elme") (NYSE: ELME), a multifamily REIT with communities in the Washington, DC metro area and the ...

Board of Trustees Initiates Review of Strategic Alternatives to Maximize Shareholder ValueBETHESDA, Md., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Elme Communities (the “Company” or “Elme”) (NYSE: ELME), a multifamily REIT with communities in the Washington, DC metro area and the Atlanta metro area, reported financial and operating results today for the quarter and year ended December 31, 2024: Fourth Quarter Financial and Operational Highlights Net loss was $3.0 million, or $0.03 per diluted shareCore FFO was $20. ...

Group 1 - Elme Communities will release its fourth quarter earnings results on February 13, 2025, after market close [1] - A conference call to discuss the earnings results is scheduled for February 14, 2025, at 10:00 am ET [1] - The company provides a toll-free number for the conference call and webcast access information [1] Group 2 - Elme Communities is a multifamily real estate investment trust focused on the Washington, DC metro and the Sunbelt regions [2] - The company aims to provide quality, affordable homes to a mid-market demand that is underserved [2] - Elme Communities is committed to building long-term value for its shareholders through enhanced quality and service [2]