Americold Realty Trust Declares First Quarter 2022 Dividend

BETHESDA, Md., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Elme Communities (the “Company” or “Elme”) (NYSE: ELME), a multifamily REIT, reported financial and operating results today for the quarter ended June 30, 2025:

Financial Results Three months ended June 30,20252024Net loss per diluted share$(0.04)$(0.04)Core FFO per diluted share0.240.23

Operational Highlights

Same-store multifamily NOI increased by 4.5% compared to the prior year quarterSame-store Average Effective Monthly Rent Per Home increased 1.4% compared to the prior year quarterEffective blended Lease Rate Growth was 1.3% for our Same-Store Portfolio during the quarter, comprised of effective new Lease Rate Growth of (3.3)% and effective renewal Lease Rate Growth of 4.9%Retention was 62% during the quarter, in line with expectationsSame-store multifamily Average Occupancy was 94.7% during the quarter, up 0.2% compared to the prior year quarter

Balance Sheet

Available liquidity was $330 million as of June 30, 2025, consisting of availability under the Company's revolving credit facility and cash on handAnnualized second quarter Net Debt to Adjusted EBITDA ratio was 5.6xThe Company has a strong balance sheet with only $125 million of debt maturing before 2028 and no secured debt

Strategic Review Update

On August 4, 2025, Elme announced that it had entered into a Purchase and Sale Agreement with Cortland Partners, dated August 1, 2025 (the “Purchase Agreement”), providing for the sale of 19 multifamily communities for approximately $1.6 billion.