Elme Communities ELME

Real EstateResidential & Commercial REITsUnited States of America

Last close 1.77 USD on Nov 3, 2026, +40.2% year to date

Quant rating

Quant rating D Rank 147 of 175 in Real Estate

Growth D 143 of 175
Valuation D 155 of 175
Quality D 161 of 175
Revisions D 143 of 175
Momentum A 14 of 175

Wall Street consensus Hold (3.00)

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 4M
Enterprise value: 214M
52-week range: 1.26 – 17.65
3-year range: 1.26 – 18.26
Dividend yield: 40.68%
Beta (5 years): 0.81
Shares outstanding: 88.9M
Next earnings: –

About the company

Elme Communities is a multifamily real estate investment trust that owns and operates apartment homes in the Washington, DC metro and the Atlanta metro. The Company operates in a single reportable segment which includes the ownership, development, redevelopment and acquisition of apartment communities (the Residential segment). The Company’s properties include Riverside Apartments, Elme Bethesda, Elme Germantown, Elme Watkins Mill, 3801 Connecticut Avenue, Kenmore Apartments, Elme Conyers, Elme Marietta and Elme Sandy Springs. It also owns and operates approximately 300,000 square feet of commercial space (Watergate 600) in the Washington, DC metro region.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	0	242	228	209	169	–
Revenue growth	−100.0%	6.2%	8.9%	23.8%	−3.9%	–
EPS (basic, normalized)	−1.75	−0.15	−0.61	−0.36	−0.33	–
EPS growth	–	–	–	–	–	–
Gross margin	–	59.7%	61.4%	61.1%	60.4%	60.7%
Net margin	–	−5.5%	−23.4%	−14.9%	−31.6%	−18.8%
ROE	–	−1.2%	−4.4%	−2.4%	−4.0%	−3.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	41.3
Current ratio	–
Long-term debt (mil)	251
Net debt (mil)	210
Total equity (mil)	168
Net debt / equity	1.25x
Net debt / EBITDA	−4.76x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	0	−100.0%	–	−44.0	−135.1%	−4.9x	−1.75	−1,066.7%	−1.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	–	–	–	–	–	–	–	–
2027	–	–	–	–	–	–	–	–
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	FQ0
Sales reported (mil)	58.9	59.5	60.1	61.1	61.3	61.5	62.1	62.1	20.7	–
Sales mean (mil)	58.6	58.8	60.4	60.3	60.5	61.2	61.5	62.2	43.4	–
Surprise	+0.4%	+1.2%	−0.4%	+1.2%	+1.3%	+0.5%	+1.1%	−0.2%	−52.4%	–
EPS reported	−0.04	−0.04	−0.03	−0.03	−0.03	−0.05	−0.04	−0.13	−0.26	–
EPS mean	0.02	−0.03	−0.03	−0.03	−0.03	−0.04	−0.04	−0.03	−0.03	–
Surprise	−300.0%	−33.3%	0.0%	0.0%	0.0%	−25.0%	0.0%	−333.3%	−766.7%	–

Peer comparison Residential & Commercial REITs

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ELME Elme Communities	4M	−4.76x	–	0.03x	–	–	–	–
VMRK Vivmark Residential	48.0B	4.55x	36.2%	2.21x	47.3x	39.0x	21.6x	14.6x
ESS Essex Property Trust, Inc.	17.0B	4.95x	35.5%	3.22x	46.7x	42.2x	18.6x	17.7x
INVH Invitation Homes Inc.	15.3B	5.62x	21.5%	1.75x	26.5x	35.0x	15.5x	15.3x
SUI Sun Communities Inc	13.8B	2.94x	−3.0%	2.56x	−186.0x	37.8x	15.8x	17.0x
MAA Mid-America Apartment Communities Inc	13.6B	4.80x	20.1%	2.57x	31.3x	37.7x	15.6x	15.4x
Mean		3.02x	22.0%	2.06x	−6.9x	38.3x	17.4x	16.0x
Median		4.68x	21.5%	2.38x	31.3x	37.8x	15.8x	15.4x

Technical analysis

1M+0.6%
3M+136.3%
1Y+48.8%
3Y+98.4%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Elme Communities, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	0	242	228	209	169	176
Cost of revenue	–	97.6	87.9	81.4	66.9	69.1
Gross profit	0	144	140	128	102	107
Selling, general & administrative expenses	–	25.0	25.9	28.3	27.5	24.0
Research & development	–	–	–	–	–	–
Depreciation/amortization	–	95.9	89.0	91.7	72.7	70.3
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	0.1	48.3	14.6	19.4	15.0
Other operating expenses	0	0	0	0	0	0
Operating income	0	23.3	−23.1	−6.6	−17.3	−2.5
Net interest income (expense)	–	−37.8	−30.4	−24.9	−39.9	−37.9
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	–	1.4	0.6	0.7	4.1	0
Net income before taxes	–	−13.1	−53.0	−30.9	−53.1	−40.3
Provision for taxes	–	–	–	–	–	–
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	–	−13.1	−53.0	−30.9	−53.1	−40.3
Extraordinary items	–	–	0	0	69.5	24.6
Net income	–	−13.1	−53.0	−30.9	16.4	−15.7
EBIT, normalized	–	23.5	25.1	8.0	2.0	12.6
EBITDA, normalized	–	119	114	99.7	74.7	82.9
Basic EPS, normalized	−1.75	−0.15	−0.61	−0.36	−0.33	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Elme Communities, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,332	6.1	6.0	8.4	234	7.7
Receivables	6.0	12.5	17.6	16.3	15.1	58.3
Total inventory	–	–	–	–	–	–
Prepaid expenses	–	25.3	23.3	21.9	29.5	41.1
Other current assets	–	–	–	–	–	–
Total current assets	–	–	–	–	–	–
Property, plant & equipment	776	1,796	1,847	1,821	1,593	2,272
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	1,338	49.7	53.0	51.9	283	138
Total assets	2,114	1,846	1,900	1,873	1,876	2,410
Liabilities
Accounts payable	–	36.3	39.0	34.4	40.6	55.0
Payable/accrued	8.0	–	–	–	–	–
Accrued expenses	–	–	–	–	–	3.7
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	–	–	–	–	–	–
Total current liabilities	–	–	–	–	–	–
Long-term debt	520	699	679	552	497	987
Minority interest	–	0.3	0.3	0.3	0.3	0.3
Other liabilities	1,355	64.7	66.3	56.5	62.0	101
Total liabilities	1,875	764	746	609	559	1,089
Shareholders' equity
Preferred stock	–	0	–	0	0	0
Common stock	–	0.9	0.9	0.9	0.9	0.8
Additional paid-in capital	–	1,740	1,736	1,730	1,697	1,649
Retained earnings (accumulated deficit)	–	−646	−569	−453	−362	−299
Treasury stock	–	–	–	–	–	–
Other equity	239	−13.1	−13.0	−14.2	−19.1	−30.6
Total equity	239	1,082	1,154	1,263	1,317	1,321
Total liabilities & shareholders' equity	2,114	1,846	1,900	1,873	1,876	2,410

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Elme Communities, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	–	−13.1	−53.0	−30.9	16.4	−15.7
Depreciation, depletion & amortization	–	95.9	89.0	91.7	95.6	120
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	13.5	56.5	19.4	−12.5	31.7
Changes in working capital	–	−1.1	−7.8	−7.1	−10.3	−23.1
Cash from operations	–	95.2	84.7	73.2	89.2	113
Investing activities
Capital expenditures	–	−47.6	−146	−243	−186	−58.3
Other investing cash flows	–	3.9	0	1.5	888	124
Cash from investing	–	−43.7	−146	−241	702	65.8
Financing activities
Financing cash flow items	–	−6.8	−2.9	−3.3	−13.0	−26.0
Cash dividends paid	–	−63.6	−64.3	−59.4	−90.7	−99.1
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	–	19.0	127	6.3	−462	−60.1
Cash from financing	–	−51.4	60.2	−56.4	−565	−185
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	–	0.1	−1.3	−224	226	−6.5
Free cash flow	–	47.6	−61.6	−169	−97.1	54.7

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.