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Elme Communities (ELME)
NYSE:ELME
Earnings Data
Report Date
Apr 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.03Last Year’s EPS
-0.04Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 13, 2025
|% Change Since: 12.20%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Positive
Elme Communities demonstrated strong operational and financial performance in 2024, with positive growth initiatives and a strong market position in the Washington Metro area. However, challenges remain with stock trading at a discount, potential impacts from federal government changes, and specific market challenges in Atlanta and Watergate 600. Overall, the positive aspects slightly outweigh the challenges.Company Guidance
During the Elme Communities Fourth Quarter 2024 Earnings Conference Call, the management provided several key metrics and guidance for 2025. They are projecting same-store multifamily revenue growth to range from 2.1% to 3.6%, with embedded revenue growth at 80 basis points by the end of January. The company aims for a same-store occupancy range of 95% to 95.5% for the year, reflecting a more normalized year compared to 2024. Operating expenses are expected to grow between 2.75% and 4.25%, with controllable expenses increasing by 4% to 5% due to technology initiatives. The Watergate 600 NOI is forecasted to decline by approximately 6% to a range of $11.5 million to $12.25 million. Core FFO per share drivers include $0.04 growth from the same-store multifamily portfolio, offset by declines from Watergate 600 and higher G&A expenses. Additionally, Elme plans to complete 500 full renovations in 2025 with an average cost of $17,000 per unit, targeting a 17% ROI, and anticipates capturing $300,000 to $600,000 additional NOI from Phase 1 of their managed Wi-Fi initiative.Operational Milestones in 2024
Elme Communities launched their shared Services department, Elme Resident Services, streamlining resident account management and improving operational efficiency. They also initiated Phase 1 of the managed Wi-Fi initiative, with NOI growth expected to ramp up throughout 2025.
Strong Demand and Market Positioning
The Washington Metro area was a top-performing market in 2024, with demand trends remaining solid. The region's diverse economy and high cost of housing drive sustained demand for value-oriented rental options.
Renovation and Revenue Growth Initiatives
Elme completed about 500 full renovations in 2024 with an average renovation ROI of approximately 17%. They captured approximately $1.8 million of additional NOI growth from operating initiatives and expect further growth in 2025.
Positive Market Dynamics Expected in 2025
The Washington Metro portfolio is expected to experience continued strong supply-demand dynamics, and Atlanta's market dynamics are expected to gradually improve, paving the way for a strong 2026.
Strong Balance Sheet and Financial Position
Elme has no debt maturing before 2028, with a solid balance sheet and annualized adjusted net debt to EBITDA of 5.7x in Q4 2024.
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ELME Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ELME Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 13, 2025 | $15.49 | $17.23 | +11.23% |
| Nov 04, 2024 | $16.50 | $16.70 | +1.21% |
| Aug 01, 2024 | $16.34 | $16.58 | +1.47% |
| May 01, 2024 | $14.67 | $14.80 | +0.89% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Elme Communities (ELME) report earnings?
Elme Communities (ELME) is schdueled to report earning on Apr 23, 2025, TBA Not Confirmed.
What is Elme Communities (ELME) earnings time?
Elme Communities (ELME) earnings time is at Apr 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ELME EPS forecast?
ELME EPS forecast for the fiscal quarter 2025 (Q1) is -0.03.
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