Elme Communities (ELME) Q1 2026 earnings summary

Executive summary

• Board and shareholders approved a Plan of Sale and Liquidation, with all assets to be sold and the company dissolved by mid-2026.

• Four properties sold in Q1 2026 for $199M; additional sales agreements in place for remaining assets, targeting completion by mid-2026.

• Special liquidating distribution of $14.67 per share paid in January 2026; further distributions estimated between $2.07 and $2.35 per share.

Financial highlights

• Net assets in liquidation as of March 31, 2026 were $203.9M, down from $238.9M at year-end 2025.

• Cash and cash equivalents at March 31, 2026 were $19.8M, with $19.5M in restricted cash.

• No new equity issued in Q1 2026; dividend reinvestment program suspended and being terminated.

Outlook and guidance

• Remaining property sales expected to close by mid-2026, with final dissolution and NYSE delisting anticipated in Q3 2026.

• Total liquidating distributions projected between $16.74 and $17.02 per share, subject to change based on sale proceeds and costs.