Rock Elm (community), Wisconsin

Elme Communities Announces Third Quarter 2023 Results

Retrieved on: 
Thursday, October 26, 2023
Growth, NYSE, EBITDA, Acquisition, Core, REIT, Risk, NOI, Rock Elm (community), Wisconsin, CFO, NAREIT, Investment, Watergate scandal, Rare-earth element, Lease, Commercial property, Elmė, Atlanta

Watergate 600 was 87.8% occupied and leased at quarter end and we expect occupancy to remain flat through year end.

Key Points: 
  • Watergate 600 was 87.8% occupied and leased at quarter end and we expect occupancy to remain flat through year end.
  • "We reported a solid third quarter and our results and forward-looking trends align with our current Core FFO outlook for the year," said Steven Freishtat, Executive Vice President and CFO.
  • Management is tightening the range of its 2023 Core FFO guidance and maintaining its midpoint at $0.98 per fully diluted share.
  • Core FFO for 2023 is now expected to range from $0.97 to $0.99 per fully diluted share.

Elme Communities to Release Third Quarter 2023 Results on Thursday, October 26th

Retrieved on: 
Monday, October 2, 2023
Conference, NYSE, Rock Elm (community), Wisconsin, Conference call, Rare-earth element, Mobile phone

BETHESDA, Md., Oct. 02, 2023 (GLOBE NEWSWIRE) -- Elme Communities (“Elme”) (NYSE:ELME), a value-oriented multifamily owner and operator, will release third quarter earnings results after market close on Thursday, October 26, 2023.

Key Points: 
  • BETHESDA, Md., Oct. 02, 2023 (GLOBE NEWSWIRE) -- Elme Communities (“Elme”) (NYSE:ELME), a value-oriented multifamily owner and operator, will release third quarter earnings results after market close on Thursday, October 26, 2023.
  • A conference call to discuss these results will be conducted on Friday, October 27, 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 Welcomes New Board Member, Susan Carras

Retrieved on: 
Wednesday, September 13, 2023
Connect, Edmund Sonnenblick, First Women, JLL, Washington Metro, Trustee, Commercial property, Real estate, Urban Land Institute, Urban Land, Chase Bank, Development, Observer Media, Acquisition, Rock Elm (community), Wisconsin, Executive Committee, S-1 Executive Committee, Lafayette College, Woman, NYSE, HFF, Female, Property management

WASHINGTON, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Elme Communities (NYSE: ELME), a value-oriented multifamily owner and operator, announced today the appointment of Susan Carras as an independent director to the Board of Trustees.

Key Points: 
  • WASHINGTON, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Elme Communities (NYSE: ELME), a value-oriented multifamily owner and operator, announced today the appointment of Susan Carras as an independent director to the Board of Trustees.
  • Her appointment expands the company’s Board to seven members and increases female representation among independent trustees to 50%.
  • “We are pleased to welcome Susan to Elme’s Board,” said Paul T. McDermott, Chairman and Chief Executive Officer.
  • She brings extensive multifamily debt and equity transaction experience that will greatly benefit our Board and Company.

Elme Communities Announces Second Quarter 2023 Results

Retrieved on: 
Monday, July 31, 2023
REIT, Core, Tiffany Butcher, Watergate scandal, Sun Belt, Acquisition, Rock Elm (community), Wisconsin, Growth, NAREIT, CFO, NOI, Elmė, NYSE, Lease, Commercial property, Renewable energy

Subsequent to quarter end, Tiffany Butcher joined the Company as Executive Vice President and Chief Operating Officer.

Key Points: 
  • Subsequent to quarter end, Tiffany Butcher joined the Company as Executive Vice President and Chief Operating Officer.
  • "We are pleased to announce that we completed the full transition of community-level operations at our multifamily communities.
  • Our strong occupancy trend and very strong renewal rates drove 9.6% revenue growth in the second quarter," said Steven Freishtat, Executive Vice President and CFO.
  • We have seen a rebound in the ability to drive performance as communities have restabilized under Elme management.

Elme Communities Appoints Chief Operating Officer

Retrieved on: 
Wednesday, June 28, 2023
Smith, University, JBG, Seth Smith (property developer), Washington metropolitan area, Forecasting, Business administration, Jeff Jacobson (CEO), Trustee, Rock Elm (community), Wisconsin, JBG Smith, Harvard Business School, Boy, House, NYSE, Management, Elmė

WASHINGTON, June 28, 2023 (GLOBE NEWSWIRE) -- Elme Communities (NYSE: ELME), a value-oriented multifamily owner and operator, is pleased to announce the appointment of Tiffany Butcher as Executive Vice President and Chief Operating Officer (COO), beginning July 10, 2023.

Key Points: 
  • WASHINGTON, June 28, 2023 (GLOBE NEWSWIRE) -- Elme Communities (NYSE: ELME), a value-oriented multifamily owner and operator, is pleased to announce the appointment of Tiffany Butcher as Executive Vice President and Chief Operating Officer (COO), beginning July 10, 2023.
  • “We are very pleased to welcome Tiffany to our executive leadership team,” said Paul T. McDermott, President and Chief Executive Officer.
  • “This role has been planned and budgeted since we began transitioning our communities to Elme management late last year.
  • Tiffany’s expertise and proven track record of success in the operations of multifamily communities of all vintages, including Class B, aligns very closely with our long-term goals.

Elme Communities to Release Second Quarter 2023 Results on Monday, July 31st

Retrieved on: 
Monday, June 26, 2023
Conference, NYSE, Rock Elm (community), Wisconsin, Conference call, Rare-earth element, Mobile phone

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.

Key Points: 
  • 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 Issues 2023 ESG Report

Retrieved on: 
Wednesday, May 24, 2023
Benchmark, U.S. Department of Energy, Office of Inspector General, U.S. Department of Defense Strategy for Operating in Cyberspace, Classification, GHG, DOE, Gold, Rock Elm (community), Wisconsin, Risk, ESG, Elmė, NYSE, ISS, Renewable energy

WASHINGTON, May 24, 2023 (GLOBE NEWSWIRE) -- Elme Communities (“Elme” or the “Company”) (NYSE: ELME), a value-driven multifamily owner and operator, announced the publication of its 2023 ESG Report .

Key Points: 
  • WASHINGTON, May 24, 2023 (GLOBE NEWSWIRE) -- Elme Communities (“Elme” or the “Company”) (NYSE: ELME), a value-driven multifamily owner and operator, announced the publication of its 2023 ESG Report .
  • The report, which summarizes the Company’s ESG initiatives, programs, and achievements in 2022 and into 2023, can be found on the ESG page of the Company’s website at www.elmecommunities.com .
  • Lastly, we maintained our Sustainalytics ESG classification as “Low Risk,” even further reducing our assessed ESG risk over the course of 2022 and into 2023.
  • “By the end of summer 2023, we will have all our communities managed and maintained by our Elme team members, which is giving us greater insights and more opportunities around ESG.

Elme Communities Announces First Quarter 2023 Results

Retrieved on: 
Thursday, April 27, 2023
Interest, Marketing, REIT, Core, G&A, Sale, Watergate scandal, FFO, Sun Belt, Acquisition, Rock Elm (community), Wisconsin, NAREIT, CFO, NOI, Growth, NYSE, Bank, Security (finance), Renewable energy, Effectiveness, Elmė

"We delivered a strong first quarter and we remain on track to generate double-digit Core FFO growth this year," said Paul T. McDermott, President and CEO.

Key Points: 
  • "We delivered a strong first quarter and we remain on track to generate double-digit Core FFO growth this year," said Paul T. McDermott, President and CEO.
  • Beyond 2023, we expect to generate operational upside enabled by our infrastructure transformation and technology investments, which we look forward to discussing in detail on our earnings call."
  • We are on track to complete the transition by the end of July 2023.
  • Management is tightening the range of its 2023 Core FFO guidance to $0.96 to $1.02 per fully diluted share.

Elme Communities to Release First Quarter 2023 Results on Thursday, April 27th

Retrieved on: 
Thursday, March 23, 2023
Conference, NYSE, Rock Elm (community), Wisconsin, Conference call, Clothing, Mobile phone

WASHINGTON, March 23, 2023 (GLOBE NEWSWIRE) -- Elme Communities (NYSE:ELME) will release first quarter earnings results after market close on Thursday, April 27, 2023.

Key Points: 
  • WASHINGTON, March 23, 2023 (GLOBE NEWSWIRE) -- Elme Communities (NYSE:ELME) will release first quarter earnings results after market close on Thursday, April 27, 2023.
  • A conference call to discuss these results will be conducted on Friday, April 28, 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 Announces Fourth Quarter and Full Year 2022 Results

Retrieved on: 
Thursday, February 16, 2023
CFO, SOFR, NOI, Trustee, Rock Elm (community), Wisconsin, Sun Belt, NYSE, Acquisition, EBITDA, Core, REIT, G&A, Season, Growth, Interest, NAREIT, Watergate scandal, FFO, History, Reinsurance, Limestone, Lease, Credit, Renting, Pharmaceutical industry, Elmė, Effectiveness

The new term loan has an interest rate of adjusted SOFR plus 95 basis points.

Key Points: 
  • The new term loan has an interest rate of adjusted SOFR plus 95 basis points.
  • The Company remains on track to complete the transition to Elme management by the summer of 2023.
  • Average occupancy for the quarter decreased 90 basis points from the prior year period to 95.0%.
  • "Our balance sheet is in excellent shape, with an annualized fourth quarter net debt to EBITDA of 4.8x, over $650 million of liquidity, no secured debt, and no debt maturities until 2025.