Stock Track | Elme Communities Soars 6.52% After-Hours on Strategic Review, Solid Q4 Results

Stock Track

Feb 14, 2025

Elme Communities (ELME), a multifamily REIT focused on affordable rental housing, saw its stock surge 6.52% in after-hours trading on Thursday. This move came after the company reported solid fourth-quarter 2024 results, with core FFO of $0.24 per share meeting estimates and revenue of $61.3 million beating expectations, up 4.1% year-over-year.

More significantly, Elme announced that its Board of Trustees has initiated a formal evaluation of strategic alternatives to maximize shareholder value. The company stated it will assess all options, including a potential sale, as ELME's shares continue to trade at a discount to private market valuations despite its strong growth prospects.

Looking ahead, Elme provided an optimistic outlook for 2025, forecasting core FFO of $0.91-$0.97 per share. The company expects to benefit from strong rental demand trends, favorable supply/demand dynamics in its core Washington D.C. and Atlanta markets, and continued growth in fee income from operational initiatives.

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This move came after the company reported solid fourth-quarter 2024 results, with core FFO of $0.24 per share meeting estimates and revenue of $61.3 million beating expectations, up 4.1% year-over-year.</p>\n\n<p>More significantly, Elme announced that its Board of Trustees has initiated a formal evaluation of strategic alternatives to maximize shareholder value. The company stated it will assess all options, including a potential sale, as ELME's shares continue to trade at a discount to private market valuations despite its strong growth prospects.</p>\n\n<p>Looking ahead, Elme provided an optimistic outlook for 2025, forecasting core FFO of $0.91-$0.97 per share. The company expects to benefit from strong rental demand trends, favorable supply/demand dynamics in its core Washington D.C. and Atlanta markets, and continued growth in fee income from operational initiatives.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ELME","symbol_name":"Elme Communities","start_time":0,"source_url":"","article_id":"1160686065","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1160686065","pubTimestamp":1739486228,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Elme Communities , a multifamily REIT focused on affordable rental housing, saw its stock surge 6.52% in after-hours trading on Thursday. 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