Elme Communities reports Q2 core FFO 24c , consensus 24c

Reports Q2 revenue $56.6M, consensus $56.65M. “We are pleased to announce that we completed the full transition of community-level operations at our multifamily communities. The execution risk related to the onboarding process is behind us, and we can now shift our focus to realizing the full benefits of our new multifamily platform,” said Paul McDermott, president and CEO. “Trading at an implied cap rate that does not reflect the underlying value of our portfolio, we believe our value proposition is compelling and we expect to earn a lower implied cap rate as we deliver operational upside through 2025.”