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 June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIE ...

分组1 - Elme reported quarterly funds from operations (FFO) of $0.23 per share, matching the Zacks Consensus Estimate, but down from $0.24 per share a year ago [1] - The company posted revenues of $60.1 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.19%, compared to $56.6 million in the same quarter last year [2] - Elme shares have increased approximately 12.7% year-to-date, underperforming the S&P 500's gain of 15.8% [3] 分组2 - The future performance of Elme's stock will largely depend on management's commentary during the earnings call and the company's FFO outlook [4][6] - Current consensus FFO estimate for the upcoming quarter is $0.24 on revenues of $60.47 million, and for the current fiscal year, it is $0.93 on revenues of $240.7 million [7] - The REIT and Equity Trust - Residential industry is currently ranked in the top 20% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Aelme Earnings Release and Supplemental Information Q2 2024 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 August 1, 2024 Elme Communities Announces Second Quarter 2024 Results Elme Communities (the "Company") (NYSE: ELME), a multifamily REIT with communities in the Washington, DC metro area and the Atlanta metro area, reported financial and operating resul ...

Financial Results - Elme Communities reported a net loss of $3.5 million, or $0.04 per diluted share for the quarter ended June 30, 2024 [1] - NAREIT FFO was $20.4 million, or $0.23 per diluted share, while Core FFO was $20.5 million, also at $0.23 per diluted share [1] - Net Operating Income (NOI) for the quarter was $38.1 million [1] Operational Highlights - Same-store multifamily NOI increased by 1.3% compared to the prior year period [2] - Effective blended Lease Rate Growth for the Same-Store Portfolio was 3.2%, with new Lease Rate Growth at 0.2% and renewal Lease Rate Growth at 5.4% [2] - Average Effective Monthly Rent Per Home rose by 2.5% compared to the prior year period [2] - Same-store Retention rate was 65%, with an average occupancy of 94.6%, down 0.8% year-over-year but up 0.2% from the previous quarter [2] Liquidity Position - The company amended its credit agreement to provide a $500 million revolving credit facility, extendable to $1.0 billion, maturing in July 2028 [3] - As of August 1, 2024, approximately $320 million was available on the revolving credit facility [3] - The annualized Net Debt to Adjusted EBITDA ratio was 5.6x, with $125 million of debt maturing before 2028 and no secured debt [3] Guidance - Elme tightened its Core FFO guidance for 2024 to a range of $0.91 to $0.95 per diluted share [5] - Same-store multifamily NOI growth is now expected to range from 0.75% to 1.75% for the full year [6] - Non-same-store multifamily NOI is projected to be between $5.35 million and $6.15 million [6] Dividend Information - The company declared a quarterly dividend of $0.18 per share, payable on October 3, 2024 [9]

Scharvik/iStock via Getty Images As of the end of the first quarter, Elme owned ~9.4K apartments in the Washington, DC metro and Sunbelt regions. Most of the assets are located in Washington and are Class-B, with about half of them being located in Urban areas: Washington DC - Historical Population Data The same story applies to Atlanta, only the growth rate has been more attractive there: Now, while Atlanta has a relatively low unemployment rate at the moment, Washington has historically been a city with a ...

Company Overview - Elme Communities is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Sunbelt, along with about 300,000 square feet of commercial space [1] - The company focuses on providing quality, affordable homes to a deep, solid, and underserved base of mid-market demand, aiming to build long-term value for shareholders [1] Financial Developments - Elme Communities has successfully completed a new $500 million credit facility to replace its prior revolving credit facility, which was set to mature in August 2025 [3] - The new credit facility has a four-year term ending on July 10, 2028, and includes two 6-month maturity extension options and an accordion feature that provides an additional $500 million of capacity [3] - The initial interest rate for the new credit facility is based on adjusted daily SOFR plus a margin of 85 basis points, which may change based on Elme's credit ratings [3] Leadership Statements - Steven Freishtat, Executive Vice President and Chief Financial Officer of Elme Communities, expressed satisfaction with the completion of the credit facility recast, highlighting its role in extending the company's strong liquidity position and optimizing costs [2]

BETHESDA, Md., July 11, 2024 (GLOBE NEWSWIRE) -- Elme Communities (NYSE: ELME), a multifamily owner and operator, announced today that it has entered into a new $500 million credit facility to replace the prior revolving credit facility which had been due to mature in August 2025. The new credit facility has a fouryear term ending on July 10, 2028, and includes two 6-month maturity extension options and an accordion feature which provides an additional $500 million of capacity on the facility. The initial i ...

Core Viewpoint - Elme Communities is set to release its second quarter earnings results on August 1, 2024, with a follow-up conference call scheduled for August 2, 2024, at 10:00 am ET [1]. Group 1: Earnings Release Information - The second quarter earnings results will be announced after market close on August 1, 2024 [1]. - A conference call to discuss the earnings results will take place on August 2, 2024, at 10:00 am ET [1]. - Access information for the conference call includes a USA toll-free number (888-506-0062) and an international toll number (973-528-0011) with an entry code of 222443 [1]. Group 2: Replay Information - An instant replay of the conference call will be available until August 16, 2024, at 11:59 pm ET [2]. - Replay access includes a USA toll-free number (877-481-4010) and an international toll number (919-882-2331) with a conference ID of 50778 [2]. - The webcast replay can be accessed at ir.elmecommunities.com [2]. Group 3: Company Overview - Elme Communities is a multifamily real estate investment trust focused on owning and operating apartment homes in the Washington, DC metro and the Sunbelt regions [2]. - The company aims to provide quality, affordable homes to a solid and underserved base of mid-market demand, thereby building long-term value for shareholders [2].

USA Toll Free Number: 888-506-0062 International Toll Number: 973-528-0011 Entry Code 222443 Webcast: ir.elmecommunities.com About Elme Communities Contact: Investor Relations Amy Hopkins 202-774-3253 ahopkins@elmecommunities.com BETHESDA, Md., June 24, 2024 (GLOBE NEWSWIRE) -- Elme Communities ("Elme") (NYSE:ELME), a value-oriented multifamily owner and operator, will release second quarter earnings results after market close on Thursday, August 1, 2024. A conference call to discuss these results will be c ...

Elme Communities (NYSE:ELME) Q1 2024 Earnings Conference Call May 2, 2024 9:00 AM ET Company Participants Amy Hopkins - Vice President, Investor Relations Paul McDermott - President and Chief Executive Officer Tiffany Butcher - Chief Operating Officer Steven Freishtat - Chief Financial Officer Conference Call Participants Anthony Paolone - JPMorgan Jamie Feldman - Wells Fargo Operator Greetings and welcome to Elme Communities First Quarter 2024 Earnings Conference Call. At this time, all participants are in ...