Announcement • Nov 26
Elme Communities Declares Initial Special Liquidating Distribution, Payable on January 7, 2026 Elme Communities announced that its Board of Trustees has approved a special liquidating distribution of $14.67 per share (the “Special Dividend”). The Special Dividend will be paid on January 7, 2026 to shareholders of record at the close of business on December 22, 2025. Announcement • Nov 13
Cortland Partners, LLC completed the acquisition of 19 Property Portfolio from Elme Communities (NYSE:ELME). Cortland Partners, LLC entered into a Purchase and Sale Agreement to acquire 19 Property Portfolio from Elme Communities (NYSE:ELME) for $1.6 billion on August 1, 2025. A cash consideration of $1.61 billion will be paid by Cortland Partners, LLC. As part of consideration, $1.61 billion is paid towards assets of 19 Property Portfolio. In case of termination of transaction, Cortland Partners, LLC will pay a termination fee of $100 million and Elme Communities will pay a termination fee of $37.50 million. The Company intends to return net proceeds from the Portfolio Sale Transaction and other asset sales to Elme shareholders when appropriate and in the Board’s discretion, subject to payment of, and the creation of necessary reserves for, the Company’s liabilities and obligations and the payment of expenses. Elme intends for its common shares to continue to be listed on the New York Stock Exchange if shareholders approve the Portfolio Sale Transaction and Plan of Sale and Liquidation, the Company expects to voluntarily delist its common shares from the NYSE in order to reduce operating expenses and maximize liquidating distributions. The Trust obtained a commitment to provide debt financing in the original principal amount of $520 million which will be secured by substantially all of the Trust’s real estate assets and subsidiary equity interests that remain after the closing under the Purchase Agreement, pursuant to a commitment letter from Goldman Sachs Bank USA. Buyer will have on the Closing Date sufficient cash on hand to pay the Purchase Price and all related expenses required to be paid by Buyer and has executed commitment letter from Cortland Enhanced Value Fund VI, L.P. to provide Buyer with equity financing in the aggregate amounts set forth therein.
The Trust’s board of trustees has declared the Portfolio Sale Transaction advisable, recommended approval of the Portfolio Sale Transaction to the Trust’s shareholders, and unanimously approved the Purchase Agreement. The Purchase Agreement also provides that with respect to one property that is subject to certain regulatory notice requirements in the District of Colombia, the closing as to that property may, in certain circumstances, be delayed if such conditions to the closing of that property have not been met. The Portfolio Sale Transaction is not contingent on the receipt of financing by Cortland. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions including the receipt of approval from the Company’s shareholders. On October 30, 2025, Elme shareholders approved the sale.
Goldman Sachs & Co. LLC acted as financial advisor and fairness opinion provider for Elme Communities and will receive a fee of $2 million for opinion rendered and $18.8 million towards advisory fee. Jones Lang LaSalle Securities, LLC acted as financial advisor for Elme Communities. Paul D. Manca and Elizabeth Banks of Hogan Lovells US LLP acted as legal advisor for Elme Communities. Evercore Inc. acted as financial advisor for Cortland Partners, LLC. Citigroup Global Markets Inc. acted as financial advisor for Cortland Partners, LLC. Morgan Stanley & Co. LLC acted as financial advisor for Cortland Partners, LLC. John D. Wilson, C. Spencer Johnson III and John M. Anderson, L. Wayne Pressgrove, R. Davis Powell, W. Todd Holleman of King & Spalding LLP acted as legal advisor for Cortland Partners, LLC. Joele Frank is serving as strategic communications advisor to Elme. Steven Seidman and Laura Delanoy of Willkie Farr & Gallagher LLP advised Goldman Sachs & Co. LLC as financial advisor to Elme Communities. Computershare Trust Company, National Association acted as transfer agent to Elme Communities. Sodali & Co acted as proxy solicitor to Elme Communities and will receive a fee of $0.025 million.
Cortland Partners, LLC completed the acquisition of 19 Property Portfolio from Elme Communities (NYSE:ELME) on November 12, 2025. The completion of the portfolio sale follows the satisfaction of all conditions to closing. Announcement • Oct 24
Elme Communities Announces Unaudited Real Estate Impairment for the Three Months Ended September 30, 2025 Elme Communities announced unaudited Real estate impairment for the three months ended September 30, 2025. For the year, the company announced Real estate impairment of $111,719,000. Announcement • Oct 16
Elme Communities to Report Q3, 2025 Results on Oct 23, 2025 Elme Communities announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 23, 2025 Announcement • Aug 05
Cortland Partners, LLC entered into a Purchase and Sale Agreement to acquire 19 Property Portfolio from Elme Communities (NYSE:ELME) for $1.6 billion. Cortland Partners, LLC entered into a Purchase and Sale Agreement to acquire 19 Property Portfolio from Elme Communities (NYSE:ELME) for $1.6 billion on August 1, 2025. A cash consideration of $1.61 billion will be paid by Cortland Partners, LLC. As part of consideration, $1.61 billion is paid towards assets of 19 Property Portfolio. In case of termination of transaction, Cortland Partners, LLC will pay a termination fee of $100 million and Elme Communities will pay a termination fee of $37.50 million. The Company intends to return net proceeds from the Portfolio Sale Transaction and other asset sales to Elme shareholders when appropriate and in the Board’s discretion, subject to payment of, and the creation of necessary reserves for, the Company’s liabilities and obligations and the payment of expenses. Elme intends for its common shares to continue to be listed on the New York Stock Exchange if shareholders approve the Portfolio Sale Transaction and Plan of Sale and Liquidation, the Company expects to voluntarily delist its common shares from the NYSE in order to reduce operating expenses and maximize liquidating distributions. The Trust obtained a commitment to provide debt financing in the original principal amount of $520 million which will be secured by substantially all of the Trust’s real estate assets and subsidiary equity interests that remain after the closing under the Purchase Agreement, pursuant to a commitment letter from Goldman Sachs Bank USA. Buyer will have on the Closing Date sufficient cash on hand to pay the Purchase Price and all related expenses required to be paid by Buyer and has executed commitment letter from Cortland Enhanced Value Fund VI, L.P. to provide Buyer with equity financing in the aggregate amounts set forth therein.
The Trust’s board of trustees has declared the Portfolio Sale Transaction advisable, recommended approval of the Portfolio Sale Transaction to the Trust’s shareholders, and unanimously approved the Purchase Agreement. The Purchase Agreement also provides that with respect to one property that is subject to certain regulatory notice requirements in the District of Colombia, the closing as to that property may, in certain circumstances, be delayed if such conditions to the closing of that property have not been met. The Portfolio Sale Transaction is not contingent on the receipt of financing by Cortland. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions including the receipt of approval from the Company’s shareholders.
Goldman Sachs & Co. LLC acted as financial advisor and fairness opinion provider for Elme Communities. Jones Lang LaSalle Securities, LLC acted as financial advisor for Elme Communities. Paul D. Manca and Elizabeth Banks of Hogan Lovells US LLP acted as legal advisor for Elme Communities. Evercore Inc. acted as financial advisor for Cortland Partners, LLC. Citigroup Global Markets Inc. acted as financial advisor for Cortland Partners, LLC. Morgan Stanley & Co. LLC acted as financial advisor for Cortland Partners, LLC. John Wilson, Spencer Johnson and John Anderson of King & Spalding LLP acted as legal advisor for Cortland Partners, LLC. Joele Frank is serving as strategic communications advisor to Elme. Steven Seidman and Laura Delanoy of Willkie Farr & Gallagher LLP advised Goldman Sachs & Co. LLC as financial advisor to Elme Communities. Announcement • Jul 11
Elme Communities to Report Q2, 2025 Results on Aug 05, 2025 Elme Communities announced that they will report Q2, 2025 results After-Market on Aug 05, 2025 Announcement • Apr 18
Elme Communities, Annual General Meeting, May 29, 2025 Elme Communities, Annual General Meeting, May 29, 2025. Location: meetnow.global/m66jl2n, United States Announcement • Apr 08
Elme Communities to Report Q1, 2025 Results on May 01, 2025 Elme Communities announced that they will report Q1, 2025 results After-Market on May 01, 2025 Announcement • Mar 20
Elme Communities Appoints Ron Sturzenegger to Board of Trustees Elme Communities announced the appointment of Ron D. Sturzenegger to its Board of Trustees (the “Board”), effective immediately. With Mr. Sturzenegger’s appointment as an independent trustee, the Board is now comprised of eight trustees, seven of whom are independent. Mr. Sturzenegger brings more than three decades of finance and real estate experience to the Elme Board. He previously held positions at Bank of America Corporation and BofA Securities including Managing Director and Global Head of Real Estate, Gaming and Lodging Investment Banking. He currently serves on the Board of Directors of KBS REIT III, as well as the Board of Trustees of StepStone Private Markets Fund, StepStone Private Venture and Growth Fund, StepStone Private Infrastructure Fund and StepStone Private Credit Income Fund. Ron D. Sturzenegger has over 30 years of experience in the real estate industry through his career at major financial institutions. Mr. Sturzenegger currently serves on the Board of Directors of KBS REIT III, a public, non-traded REIT focused in the office sector, and the Board of Trustees of StepStone Private Markets Fund, StepStone Private Venture and Growth Fund, StepStone Private Infrastructure Fund and StepStone Private Credit Income Fund. He served in a variety of roles for Bank of America Corporation and BofA Securities Inc. from 1998 until his retirement in 2018. Most recently, Mr. Sturzenegger was Enterprise Business & Community Engagement Executive at Bank of America, responsible for leading Bank of America’s strategy to integrate the delivery of its products and services to customers and clients in 90 key U.S. markets and driving global integration opportunities across the enterprise. Prior, he was on the Management Committee of Bank of America and was a Legacy Asset Servicing (LAS) Executive at Bank of America, whose responsibilities included resolving legacy mortgage issues following Bank of America’s acquisition of Countrywide Financial and Merrill Lynch, the management of the servicing of current, delinquent and at-risk loans, and the development and implementation of operational capabilities and processes to address regulators’ concerns regarding robo-signing. Earlier in his career he served as Managing Director and Global Head of Real Estate, Gaming and Lodging Investment Banking at Bank of America Merrill Lynch and its predecessor Bank of America Securities. Prior to Bank of America, Mr. Sturzenegger served in various roles at Morgan Stanley in Real Estate Investment Banking. He began his career as a Financial Analyst with Bain & Company. Mr. Sturzenegger serves on the Executive Committee for the policy advisory board for the Fisher Center for Real Estate & Urban Economics. He is a member of the advisory board of the Stanford Professionals in Real Estate. Mr. Sturzenegger holds a Bachelor of Science Degree in Industrial Engineering from Stanford University and an MBA from Harvard Business School. Announcement • Jan 24
Elme Communities to Report Q4, 2024 Results on Feb 13, 2025 Elme Communities announced that they will report Q4, 2024 results After-Market on Feb 13, 2025 Declared Dividend • Nov 12
Third quarter dividend of US$0.18 announced Shareholders will receive a dividend of US$0.18. Ex-date: 19th December 2024 Payment date: 6th January 2025 Dividend yield will be 4.1%, which is higher than the industry average of 3.8%. Reported Earnings • Nov 06
Third quarter 2024 earnings released: FFO per share: US$0.2 (vs US$0.23 in 3Q 2023) Third quarter 2024 results: FFO per share: US$0.2 (up from US$0.23 in 3Q 2023). Revenue: US$61.1m (up 7.8% from 3Q 2023). Funds from operations (FFO): US$20.5m (up 1.8% from 3Q 2023). FFO margin: 34% (down from 36% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Oct 02
Elme Communities to Report Q3, 2024 Results on Nov 04, 2024 Elme Communities announced that they will report Q3, 2024 results After-Market on Nov 04, 2024 Upcoming Dividend • Sep 12
Upcoming dividend of US$0.18 per share Eligible shareholders must have bought the stock before 19 September 2024. Payment date: 03 October 2024. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.9%). Declared Dividend • Aug 04
Second quarter dividend of US$0.18 announced Shareholders will receive a dividend of US$0.18. Ex-date: 19th September 2024 Payment date: 3rd October 2024 Dividend yield will be 4.4%, which is higher than the industry average of 3.8%. Reported Earnings • Aug 02
Second quarter 2024 earnings released: US$0.039 loss per share (vs US$0.031 loss in 2Q 2023) Second quarter 2024 results: US$0.039 loss per share (further deteriorated from US$0.031 loss in 2Q 2023). Revenue: US$60.1m (up 6.2% from 2Q 2023). Net loss: US$3.47m (loss widened 30% from 2Q 2023). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jun 25
Elme Communities to Report Q2, 2024 Results on Aug 01, 2024 Elme Communities announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 01, 2024 Upcoming Dividend • Jun 13
Upcoming dividend of US$0.18 per share Eligible shareholders must have bought the stock before 20 June 2024. Payment date: 03 July 2024. Trailing yield: 4.6%. Within top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.4%). Buy Or Sell Opportunity • May 23
Now 20% undervalued Over the last 90 days, the stock has risen 20% to €14.50. The fair value is estimated to be €18.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 7.4%. For the next 3 years, revenue is forecast to grow by 4.0% per annum. Earnings are also forecast to grow by 37% per annum over the same time period. Declared Dividend • May 06
First quarter dividend of US$0.18 announced Shareholders will receive a dividend of US$0.18. Ex-date: 20th June 2024 Payment date: 3rd July 2024 Dividend yield will be 4.8%, which is higher than the industry average of 3.8%. Reported Earnings • May 02
First quarter 2024 earnings released: US$0.041 loss per share (vs US$0.042 loss in 1Q 2023) First quarter 2024 results: US$0.041 loss per share (improved from US$0.042 loss in 1Q 2023). Revenue: US$59.5m (up 6.6% from 1Q 2023). Net loss: US$3.65m (loss narrowed 1.8% from 1Q 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Apr 20
Elme Communities, Annual General Meeting, May 30, 2024 Elme Communities, Annual General Meeting, May 30, 2024, at 08:30 US Eastern Standard Time. Agenda: To elect seven trustees to serve on the Board; to consider and vote on a non-binding, advisory basis upon the compensation of the named executive officers as disclosed in the Proxy Statement pursuant to Item 402 of Regulation S-K; to consider and vote on the amendment and restatement of the 2016 Omnibus Incentive Plan; to consider and vote upon ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for 2024; and to transact such other business as may properly come before the Annual Meeting or any postponement or adjournment thereof. Announcement • Mar 27
Elme Communities to Report Q1, 2024 Results on May 01, 2024 Elme Communities announced that they will report Q1, 2024 results After-Market on May 01, 2024 Upcoming Dividend • Mar 12
Upcoming dividend of US$0.18 per share Eligible shareholders must have bought the stock before 19 March 2024. Payment date: 03 April 2024. Trailing yield: 5.3%. Within top quartile of German dividend payers (5.1%). In line with average of industry peers (5.5%). Announcement • Feb 22
Elme Communities has filed a Follow-on Equity Offering in the amount of $350 million. Elme Communities has filed a Follow-on Equity Offering in the amount of $350 million.
Security Name: Common Shares
Security Type: Common Stock
Transaction Features: At the Market Offering Declared Dividend • Feb 18
Fourth quarter dividend of US$0.18 announced Shareholders will receive a dividend of US$0.18. Ex-date: 19th March 2024 Payment date: 3rd April 2024 Dividend yield will be 5.3%, which is higher than the industry average of 3.8%. Reported Earnings • Feb 16
Full year 2023 earnings released: US$0.60 loss per share (vs US$0.36 loss in FY 2022) Full year 2023 results: US$0.60 loss per share (further deteriorated from US$0.36 loss in FY 2022). Revenue: US$227.9m (up 8.9% from FY 2022). Net loss: US$53.0m (loss widened 70% from FY 2022). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, while revenues in the Residential REITs industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Jan 17
Elme Communities to Report Q4, 2023 Results on Feb 15, 2024 Elme Communities announced that they will report Q4, 2023 results After-Market on Feb 15, 2024 Upcoming Dividend • Dec 13
Upcoming dividend of US$0.18 per share at 5.4% yield Eligible shareholders must have bought the stock before 20 December 2023. Payment date: 04 January 2024. Trailing yield: 5.4%. Within top quartile of German dividend payers (5.1%). In line with average of industry peers (5.8%). Reported Earnings • Oct 27
Third quarter 2023 earnings released: US$0.50 loss per share (vs US$0.12 loss in 3Q 2022) Third quarter 2023 results: US$0.50 loss per share (further deteriorated from US$0.12 loss in 3Q 2022). Revenue: US$56.7m (up 3.8% from 3Q 2022). Net loss: US$43.6m (loss widened 304% from 3Q 2022). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 5% per year. Announcement • Oct 05
Elme Communities to Report Q3, 2023 Results on Oct 26, 2023 Elme Communities announced that they will report Q3, 2023 results After-Market on Oct 26, 2023 Announcement • Sep 14
Elme Communities Appoints Susan Carras as Independent Director to the Board of Trustees Elme Communities announced the appointment of Susan Carras as an independent director to the Board of Trustees. Her appointment expands the company’s Board to seven members and increases female representation among independent trustees to 50%. Ms. Carras is a senior managing director in the Washington, DC office of JLL Capital Markets, America. Previously, she served as co-head of HFF’s Washington, DC office from 2011 to 2019 and joined JLL as part of its acquisition of HFF. Prior to HFF, she was a principal and managing director at Sonnenblick Goldman where she served on the operating committee and founded and headed offices in Washington, DC and Tampa, FL. Earlier in her career, she was with the Real Estate Finance Division of Chase Manhattan Bank. Ms. Carras has served as a director of Blackstone Real Estate Income Trust (BREIT) since 2021. She is a trustee emerita of Lafayette College and previously chaired the Development and Alumni Relations Committee and served on the Executive Committee. Together with a fellow trustee, Ms. Carras started the First Women of Lafayette Scholarship Fund. She is active in the Urban Land Institute serving on the UDMUC Blue Council and as co-chair of the Washington Full Member Engagement Committee. Ms. Carras is a past recipient of the Greater Washington Commercial Association of Realtors Top Financing Award and Top Sales Award for the Washington, DC Metro and has been recognized by Real Estate Forum as a Women of Influence, by Bisnow as a Women of Influence in Commercial Real Estate, by Connect Media’s Women in Real Estate and by Commercial Observer as a Power Player of Washington, DC, 2022. Upcoming Dividend • Sep 12
Upcoming dividend of US$0.18 per share at 4.9% yield Eligible shareholders must have bought the stock before 19 September 2023. Payment date: 04 October 2023. Trailing yield: 4.9%. Within top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.1%). Breakeven Date Change • Aug 02
Forecast breakeven date pushed back to 2025 The 5 analysts covering Elme Communities previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 82% per year to 2024. The company is expected to make a profit of US$7.96m in 2025. Average annual earnings growth of 79% is required to achieve expected profit on schedule. Reported Earnings • Aug 01
Second quarter 2023 earnings released: US$0.03 loss per share (vs US$0.10 loss in 2Q 2022) Second quarter 2023 results: US$0.03 loss per share (improved from US$0.10 loss in 2Q 2022). Revenue: US$56.6m (up 10% from 2Q 2022). Net loss: US$2.61m (loss narrowed 71% from 2Q 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Breakeven Date Change • Aug 01
Forecast to breakeven in 2024 The 5 analysts covering Elme Communities expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$1.28m in 2024. Average annual earnings growth of 83% is required to achieve expected profit on schedule. Announcement • Jun 29
Elme Communities Appoints Tiffany M. Butcher as Executive Vice President and Chief Operating Officer, Effective July 10, 2023 On June 28, 2023, Elme Communities announced the appointment of Tiffany M. Butcher as Executive Vice President and Chief Operating Officer, effective as of July 10, 2023. Ms. Butcher, age 44, has more than 12 years of corporate leadership experience and an extensive background in residential asset management, property management, budgeting and forecasting, investment management and organizational change management. She has held positions at JBG SMITH Properties (“JBG SMITH”) since 2007. She was named JBG SMITH’s Chief Residential Officer in January 2023 and previously served as Executive Vice President from 2017 to 2023. In these roles at JBG SMITH, Ms. Butcher led the development and execution of the operating strategy for over 11,000 multifamily apartments under management throughout the Washington, DC area, led organizational change initiatives centered on customer service and creating onsite efficiencies, and managed a regional and corporate team overseeing hundreds of onsite employees. Ms. Butcher holds a Master of Business Administration from Harvard Business School and a bachelor’s degree from the University of Virginia. She serves on the Board of the Boys & Girls Clubs of Greater Washington and The House DC. Announcement • Jun 27
Elme Communities to Report Q2, 2023 Results on Jul 31, 2023 Elme Communities announced that they will report Q2, 2023 results on Jul 31, 2023 Upcoming Dividend • Jun 14
Upcoming dividend of US$0.18 per share at 4.6% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 06 July 2023. Trailing yield: 4.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.1%). Breakeven Date Change • May 23
Forecast to breakeven in 2024 The 5 analysts covering Elme Communities expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 77% to 2023. The company is expected to make a profit of US$1.09m in 2024. Average annual earnings growth of 70% is required to achieve expected profit on schedule. Reported Earnings • Apr 29
First quarter 2023 earnings released: FFO per share: US$0.2 (vs US$0.17 in 1Q 2022) First quarter 2023 results: FFO per share: US$0.2 (up from US$0.17 in 1Q 2022). Revenue: US$55.8m (up 17% from 1Q 2022). Funds from operations (FFO): US$17.9m (up 24% from 1Q 2022). FFO margin: 32% (up from 30% in 1Q 2022). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Buying Opportunity • Apr 25
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.6%. The fair value is estimated to be €19.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.9% over the last 3 years. Earnings per share has declined by 59%. Revenue is forecast to grow by 16% in 2 years. Earnings is forecast to grow by 100% in the next 2 years. Upcoming Dividend • Mar 14
Upcoming dividend of US$0.18 per share at 4.0% yield Eligible shareholders must have bought the stock before 21 March 2023. Payment date: 05 April 2023. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.3%). Reported Earnings • Feb 18
Full year 2022 earnings released: FFO per share: US$0.7 (vs US$0.78 in FY 2021) Full year 2022 results: FFO per share: US$0.7 (down from US$0.78 in FY 2021). Revenue: US$209.4m (up 24% from FY 2021). Funds from operations (FFO): US$60.9m (down 7.1% from FY 2021). FFO margin: 29% (down from 39% in FY 2021). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Dec 22
Elme Communities to Report Q4, 2022 Results on Feb 16, 2023 Elme Communities announced that they will report Q4, 2022 results After-Market on Feb 16, 2023 Upcoming Dividend • Dec 14
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 05 January 2023. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.6%). Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. Independent Director Jennifer Banner was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: US$0.12 loss per share (vs US$0.27 loss in 3Q 2021) Third quarter 2022 results: US$0.12 loss per share (improved from US$0.27 loss in 3Q 2021). Revenue: US$54.6m (up 28% from 3Q 2021). Net loss: US$10.7m (loss narrowed 52% from 3Q 2021). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Sep 28
Washington Real Estate Investment Trust Provides Earnings Guidance for the Fiscal Years 2022 and 2023 Washington Real Estate Investment Trust provided earnings guidance for the fiscal years 2022 and 2023. For the year 2022, the company expects net loss per diluted share to be in the range of $0.34 to $0.31. For the year 2023, the company expects net loss per diluted share to be in the range of $0.15 to $0.08. Announcement • Sep 20
Washington Real Estate Investment Trust to Report Q3, 2022 Results on Oct 27, 2022 Washington Real Estate Investment Trust announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Oct 27, 2022 Upcoming Dividend • Sep 13
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 20 September 2022. Payment date: 05 October 2022. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.0%). Reported Earnings • Jul 30
Second quarter 2022 earnings released: FFO: US$51.4m per share (vs US$0.25 in 2Q 2021) Second quarter 2022 results: FFO: US$51.4m per share (down from US$0.25 in 2Q 2021). Revenue: US$51.4m (up 24% from 2Q 2021). Funds from operations (FFO): US$15.2m (down 26% from 2Q 2021). FFO margin: 30% (down from 50% in 2Q 2021). Over the next year, revenue is forecast to grow 18% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Jul 30
Washington Real Estate Investment Trust Declares Quarterly Dividend, Payable on October 5, 2022 Washington Real Estate Investment Trust announced that its Board of Trustees has declared a quarterly dividend of $0.17 per share to be paid on October 5, 2022 to shareholders of record on September 21, 2022. Announcement • Jul 29
Washington Real Estate Investment Trust Provides Earnings Guidance for the Full Year Ending December 31, 2022 Washington Real Estate Investment Trust provided earnings guidance for the full year ending December 31, 2022. For the period, Same-store multifamily NOI growth is expected to range between 8.5% to 9.5% which represents a 25 basis point increase at the midpoint compared to prior guidance. Same-store multifamily and Trove NOI, which was fully delivered and invested by the start of 2021, is now expected to grow between 12.25% and 13.25%. Non-same-store multifamily NOI is expected to range from $22.0 million to $23.0 million in 2022, which represents a $0.5 million decrease at the midpoint resulting primarily from slightly higher operating and bad debt expenses and lower capitalized costs for development. The company have raised the midpoint of guidance for Other same-store NOI, which consists solely of Watergate 600, which is now expected to range from $13.25 million to $13.75 million. Net loss per diluted share to be in the range of $0.31 to $0.34. Announcement • Jun 24
Washington Real Estate Investment Trust to Report Q2, 2022 Results on Jul 28, 2022 Washington Real Estate Investment Trust announced that they will report Q2, 2022 results at 12:00 PM, US Eastern Standard Time on Jul 28, 2022 Upcoming Dividend • Jun 14
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 21 June 2022. Payment date: 06 July 2022. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.7%). Announcement • May 27
WashREIT Elects Jennifer S. Banner as Independent Director WashREIT announced the election of Jennifer S. Banner as an independent director to the Board of Trustees. Her election expands the company’s Board to eight members. Ms. Banner has 36 years of professional, managerial, and board experience, including 22 years in public accounting, 14 years as a sitting CEO, concurrent with 20 years serving on public company boards. She is the Executive Director of the University of Tennessee Haslam College of Business Forum for Emerging Enterprises and Private Business. Previously, she served as CEO of Schaad Companies, a privately held real estate company, and SchaadSource, LLC, a related privately held shared services company. Ms. Banner spent 22 years in public accounting, practicing in the tax area with Ernst & Whinney (now Ernst & Young LLP) in Florida and PYA, P.C. in Tennessee. She has been a director of Truist Financial Corporation since 2003, a member of the board of directors of Truist Bank since 2013, and a member of the board of directors of Uniti Group Inc. since 2015. Ms. Banner is interested in digital transformation of business and has been a public speaker and consultant globally on the board's role in digital transformation. In 2019, she was named an honorary Fellow of the MIT Center for Information Systems Research. Reported Earnings • Apr 29
First quarter 2022 earnings released: FFO: US$47.8m per share (vs US$0.34 in 1Q 2021) First quarter 2022 results: FFO: US$47.8m per share (down from US$0.34 in 1Q 2021). Revenue: US$47.8m (up 18% from 1Q 2021). Funds from operations (FFO): US$14.5m (down 49% from 1Q 2021). FFO margin: 30% (down from 70% in 1Q 2021). Over the next year, revenue is forecast to grow 21% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Independent Trustee Ellen Goitia was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 16
Washington Real Estate Investment Trust, Annual General Meeting, May 26, 2022 Washington Real Estate Investment Trust, Annual General Meeting, May 26, 2022, at 08:30 US Eastern Standard Time. Agenda: To consider to elect eight trustees to serve on the board; to consider and vote on a non-binding, advisory basis upon the compensation of the named executive officers as disclosed in the proxy statement pursuant to item 402 of regulation s-k; to consider and vote upon ratification of the appointment of ernst & young llp as our independent registered public accounting firm for 2022; and to consider other matter.