ELME Stock Recent News

Multifamily operator, ELME Communities, continues to generate strong property-level growth rates. Their portfolio is also running on stable occupancy rates, with retention well-above historical averages. The company has executed on their transformation efforts, though not entirely without hitch.

Elme Communities (NYSE:ELME ) Q2 2023 Results Conference Call August 1, 2023 10:00 AM ET Company Participants Paul McDermott - CEO Amy Hopkins - VP, IR Steve Freishtat - CFO Grant Montgomery - VP and Head, Research Conference Call Participants Jamie Feldman - Wells Fargo Alan Peterson - Green Street Tony Paolone - JPMorgan Michael Gorman - BTIG Operator Welcome to the Elme Communities Second Quarter 2023 Earnings Conference Call. As a reminder, today's call is being recorded.

Elme (ELME) came out with quarterly funds from operations (FFO) of $0.24 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.21 per share a year ago.

WASHINGTON, June 26, 2023 (GLOBE NEWSWIRE) -- Elme Communities (“Elme”) (NYSE:ELME), a value-oriented multifamily owner and operator, will release second quarter earnings results after market close on Monday, July 31, 2023. A conference call to discuss these results will be conducted on Tuesday, August 1, 2023, at 10:00 am ET. There will also be a live, listen-only webcast presentation. Conference call and webcast access information is as follows:

Elme Communities' affordable multifamily rental units are a draw to renters. But the trading multiple of their shares is less so for investors. A lower debt burden, a presence in more supply-restrictive operating regions, and solid core FFO growth provide some justification to the premium. Their growth initiatives, however, may not provide the return levels they are expecting.