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ELME

Elme Communities

ELME

Elme Communities • NYSE
$17.36 ▲ 0.06% (+0.01)
Market Cap $1.53 B
52w High $18.08
52w Low $13.95
Dividend Yield 0.72%
P/E -11.35
Volume 1.08M
Outstanding Shares 88.16M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $62.103M ▲ $125.783M ▲ $-123.514M ▼ -198.886% ▼ $-1.4 ▼ $-52.166M ▼
Q2-2025 $62.099M ▲ $7.689M ▼ $-3.566M ▲ -5.742% ▲ $-0.041 ▲ $-17.628M ▼
Q1-2025 $61.493M ▲ $32.468M ▲ $-4.675M ▼ -7.602% ▼ $-0.054 ▼ $28.024M ▼
Q4-2024 $61.264M ▲ $29.904M ▲ $-3.015M ▼ -4.921% ▼ $-0.034 ▲ $30.008M ▼
Q3-2024 $61.055M $29.828M $-2.97M -4.864% $-0.035 $30.208M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.088M ▲ $1.687B ▼ $777.68M ▲ $908.905M ▼
Q2-2025 $4.786M ▼ $1.81B ▼ $763.734M ▼ $1.046B ▼
Q1-2025 $6.396M ▲ $1.828B ▼ $764.378M ▲ $1.063B ▼
Q4-2024 $6.144M ▲ $1.846B ▼ $763.684M ▲ $1.082B ▼
Q3-2024 $4.84M $1.853B $754.186M $1.099B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-123.514M ▼ $15.912M ▼ $-8.685M ▲ $-4.939M ▲ $2.288M ▲ $15.912M ▼
Q2-2025 $-3.566M ▲ $29.848M ▲ $-8.753M ▼ $-22.954M ▼ $-1.859M ▼ $29.848M ▲
Q1-2025 $-4.675M ▼ $16.175M ▼ $-5.698M ▲ $-10.134M ▼ $343K ▼ $16.175M ▼
Q4-2024 $-3.015M ▼ $24.504M ▲ $-14.118M ▼ $-8.975M ▲ $1.411M ▲ $24.42M ▲
Q3-2024 $-2.97M $20.666M $-11.938M $-9.422M $-694K $20.666M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Residential Segment
Residential Segment
 $60.00M ▲$60.00M ▲$60.00M ▲$60.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Elme’s revenues have been gradually rising over the past few years, and its core property operations look reasonably healthy on a gross profit and EBITDA basis. However, after accounting for overhead, financing costs, and other non‑cash items, the company has been reporting net losses per year. Those losses appear to be narrowing over time, but they never really turned into consistent, clean profitability before the decision to liquidate. From here on, the income statement will increasingly reflect one‑off gains and costs tied to asset sales rather than normal, recurring earnings.

Balance Sheet

Balance Sheet The balance sheet shows a REIT that was reasonably asset‑rich with a meaningful, but not extreme, level of debt financed against its properties. Equity had been slowly drifting down as losses accumulated and the portfolio was reshaped, while cash on hand stayed quite low, which is typical for many REITs that distribute much of their cash. The recent decision to sell properties and wind down the business will gradually turn this asset base into cash and liquidating distributions, so the traditional balance sheet view matters less than how effectively management converts real estate values into cash for stakeholders.

Cash Flow

Cash Flow Operationally, Elme generated steady, positive cash flow from its properties, even while it was posting accounting losses. Free cash flow improved in recent years as spending on new projects and property upgrades eased back. That pattern suggests the underlying properties were cash‑generative, but growth ambitions were constrained by capital costs and market conditions. Going forward, cash flow will be dominated by the timing of property sale proceeds and payouts to shareholders rather than ongoing rent collections and regular capital spending.

Competitive Edge

Competitive Edge Before choosing to liquidate, Elme had positioned itself as a focused player in mid‑market, “value” multifamily housing—aiming to serve renters who want quality but can’t or won’t pay luxury prices. This niche can be more stable than the high‑end segment and faces somewhat less new supply. Elme also leaned into data‑driven market selection and tech‑enabled leasing, which helped differentiate it from more traditional landlords. However, as a relatively smaller REIT with a higher cost of capital, it struggled to scale that strategy in a capital‑intensive, competitive sector, which ultimately contributed to the decision to sell the portfolio instead of continuing as a going concern.

Innovation and R&D

Innovation and R&D Real estate companies typically don’t have classic R&D, but Elme did push operational innovation. It adopted a technology‑forward model, using data analytics to pick markets and tools like virtual leasing and video engagement platforms to attract and retain residents more efficiently. The emphasis was on improving the renter experience and operating efficiency rather than on new physical products. With the pivot to liquidation, these innovation efforts are no longer the focus; the company’s energy is now concentrated on executing property sales and administrative wind‑down tasks instead of building new capabilities.

Summary

Elme Communities is transitioning from an operating REIT to a business in full wind‑down. Historically, it had a clear strategy around serving value‑conscious renters with tech‑enabled operations and produced solid property‑level cash flows, but it did not achieve the scale or cost of capital needed to grow profitably in a tough real estate environment. The financial statements show modest revenue growth, ongoing accounting losses, acceptable but leveraged balance sheet metrics, and steady operating cash flow—all now overshadowed by the liquidation plan. From this point, the key issues are no longer growth, margins, or competitive positioning, but rather how effectively and at what prices the remaining assets are sold, how costs of liquidation are managed, and how and when proceeds are distributed to shareholders. Uncertainty mainly centers on real estate market conditions, execution risk around asset sales, and the timeline for delisting and final distributions.

NEWS

November 25, 2025 · 5:36 PM UTC

Elme Communities Declares Initial Special Liquidating Distribution

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November 12, 2025 · 7:21 PM UTC

Elme Communities Completes Sale of 19 Multifamily Communities for $1.6 Billion

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October 23, 2025 · 4:15 PM UTC

Elme Communities Announces Third Quarter 2025 Results

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October 15, 2025 · 4:15 PM UTC

Elme Communities to Release Third Quarter 2025 Results on Thursday, October 23rd

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