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]

Group 1 - Elme Communities announced the income tax treatment of its 2024 dividend distributions, encouraging shareholders to consult personal tax advisors for specific tax implications [1] - The total dividend distribution for 2024 is $0.72000 per share, with a breakdown of ordinary taxable income per share at $0.07644 and non-taxable return of capital at $0.56764 [2] - The company operates approximately 9,400 apartment homes and 300,000 square feet of commercial space, focusing on providing quality, affordable homes to mid-market demand [3] Group 2 - The ordinary taxable income per share for each dividend payment in 2024 is $0.01911, with a consistent gross dividend of $0.18000 per share across all payment dates [2] - Elme Communities aims to build long-term value for shareholders by enhancing the quality and service of its multifamily real estate offerings [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________ FORM 10-Q ___________________________________________________ Large Accelerated Filer ☒ Accelerated Filer ☐ Non-accelerated Filer ☐ Smaller Reporting Company ☐ Emerging Growth Company ☐ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECU ...

Financial Data and Key Metrics Changes - The company tightened its 2024 core FFO per share guidance range to $0.92 to $0.94, maintaining a midpoint of $0.93 [28] - Same-store multifamily NOI growth assumption was tightened to range from 1% to 1.5% [28] - Annualized net debt to adjusted EBITDA was 5.6x at quarter end, in line with targeted range [30] Business Line Data and Key Metrics Changes - The Washington Metro communities showed stronger than expected performance, with occupancy growth driven by Northern Virginia [17] - Atlanta experienced slower than expected improvement, with occupancy in the low-90s range [50][72] - Effective blended lease rate growth for the same-store portfolio was 2.1%, with renewal lease rate growth of 4.5% and new lease rate growth of negative 1.5% [19] Market Data and Key Metrics Changes - Demand remained strong in the Washington Metro and Atlanta Metro regions, with absorption at its highest since Q4 2021 [8] - In-migration in Atlanta is expected to increase by over 20% by year-end 2024 compared to 2023 [10] - Supply dynamics in Washington Metro are favorable, with low competition and annual net inventory growth of 1.8% [12] Company Strategy and Development Direction - The company is focusing on smart home technology, fee strategies, and payroll savings to achieve targeted NOI and FFO upside [25] - Expansion into Sunbelt markets is favored, with a focus on job creation, wage growth, and in-migration [62] - The company is rolling out managed Wi-Fi across its portfolio, expecting significant recurring NOI in the coming years [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the Washington Metro portfolio's growth in 2025, anticipating improvement in Atlanta's performance due to favorable supply/demand dynamics [32][33] - Bad debt levels are expected to remain flat year-over-year for 2024, with improvements anticipated in 2025 [38][67] - The company is prioritizing occupancy over rate growth in the current market environment [71] Other Important Information - The company completed renovations on 188 units in Q3, generating an average ROI of approximately 17% [24] - The company published its ESG report, highlighting its commitment to efficiency goals and resident health and wellness [31] Q&A Session Summary Question: Current status of bad debts in Atlanta and expectations for 2025 - Bad debt was approximately 2% of revenue in October, with normalized levels in Washington D.C. below 1% [35] - Improvements in eviction processing and proactive resident engagement are expected to reduce bad debt moving into 2025 [36][38] Question: Factors affecting occupancy in Atlanta - Occupancy issues are attributed to both eviction timelines and elevated supply deliveries [39] - Concessions in Atlanta were offered on about 58% of new leases, averaging approximately 12 days [43] Question: Expectations for occupancy and lease rates in the DMV - Occupancy in Washington Metro is expected to trend down slightly but remain strong, averaging over 96% [48] - New lease rate growth in the DMV is expected to be between 0% and negative 3% [49] Question: Capital expenditures outlook - CapEx is expected to maintain or slightly increase due to ongoing renovation initiatives and managed Wi-Fi rollout [65] Question: Expansion into new markets - The company is looking to expand into Sunbelt markets, focusing on job creation and wage growth [62]

Elme (ELME) came out with quarterly funds from operations (FFO) of $0.23 per share, missing the Zacks Consensus Estimate of $0.24 per share. This compares to FFO of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -4.17%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.23 per share when it actually produced FFO of $0.23, delivering no surprise.Over the last four quarters, the company ...

| --- | --- | --- | --- | --- | |-------|----------------------|--------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | Earnings Release and | Supplemental Information | | | | | | | | | | | | | | | | | | | | | CONTACT: 7550 Wisconsin Ave, Suite 900 Amy Hopkins Bethesda, MD 20814 Vice President, Investor Relations Tel 202-774-3253 E-Mail: ahopkins@elmecommunities.com Fax 301-984-9610 www.elmecommunities.com November 4, 2024 Elme Communities Announces Third Quarter 2024 ...

Financial Results - The company reported a net loss of $3.0 million, or $0.03 per diluted share for the quarter ended September 30, 2024 [1] - NAREIT FFO was $20.5 million, or $0.23 per diluted share, while Core FFO was $20.7 million, also at $0.23 per diluted share [1] - Net Operating Income (NOI) was $38.8 million [1] Operational Highlights - Same-store multifamily NOI increased by 2.3% compared to the prior year quarter [2] - Effective blended Lease Rate Growth for the Same-Store Portfolio was 2.1%, with new Lease Rate Growth at (1.5)% and renewal Lease Rate Growth at 4.5% [2] - Average Effective Monthly Rent Per Home increased by 2.4% compared to the prior year quarter [2] - Same-store Retention improved to 66%, up 5% from the prior year quarter [2] - Average Occupancy for same-store multifamily was 95.2%, down 0.2% from the prior year quarter [2] Liquidity Position - Available liquidity was approximately $337 million as of September 30, 2024 [3] - The annualized third quarter Net Debt to Adjusted EBITDA ratio was 5.6x [3] - The company has $125 million of debt maturing before 2028 and no secured debt [3] Guidance - The company tightened its Core FFO guidance range for 2024 to $0.92 to $0.94 per fully diluted share [5] - Same-store multifamily NOI growth is now expected to range from 1.0% to 1.5% [6] - Non-same-store multifamily NOI is expected to range from $5.35 million to $5.75 million [6] - Other same-store NOI is expected to range from $12.5 million to $12.75 million [6] Dividends - On October 3, 2024, the company paid a quarterly dividend of $0.18 per share [9] - A quarterly dividend of $0.18 per share has been declared to be paid on January 6, 2025 [9] Company Overview - Elme Communities is a multifamily real estate investment trust (REIT) operating approximately 9,400 apartment homes in the Washington, DC metro and Atlanta metro regions [11] - The company focuses on providing quality, affordable homes to middle-income renters [11]

Elme (ELME) has been on a downward spiral lately with significant selling pressure. After declining 5.5% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier. How to Determine if a Stock is Oversold We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is ...

BETHESDA, Md., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Elme Communities ("Elme") (NYSE:ELME), a value-oriented multifamily owner and operator, will release third quarter earnings results after market close on Monday, November 4, 2024. A conference call to discuss these results will be conducted on Tuesday, November 5, 2024, 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: 888-506-0062 International Toll Numbe ...

Investors might want to bet on Elme (ELME) , as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. The power of a ch ...