Elme Communities (ELME)
Market Price (6/30/2026): $1.455 | Market Cap: $128.2 MilSector: Real Estate | Industry: Multi-Family Residential REITs
Elme Communities (ELME)
Market Price (6/30/2026): $1.455Market Cap: $128.2 MilSector: Real EstateIndustry: Multi-Family Residential REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 35% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -92% Attractive yieldDividend Yield is 25%, FCF Yield is 68% Megatrend and thematic driversMegatrends include Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include ESG REITs, Green Building Certification, Show more. | Weak multi-year price returns2Y Excs Rtn is -127%, 3Y Excs Rtn is -160% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 550% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -85% Key risksELME key risks include [1] potential failure or delay in executing its Plan of Sale and Liquidation, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 35% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -92% |
| Attractive yieldDividend Yield is 25%, FCF Yield is 68% |
| Megatrend and thematic driversMegatrends include Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include ESG REITs, Green Building Certification, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -127%, 3Y Excs Rtn is -160% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 550% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -85% |
| Key risksELME key risks include [1] potential failure or delay in executing its Plan of Sale and Liquidation, Show more. |
Qualitative Assessment
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Elme Communities (ELME) stock has lost about 35% since 2/28/2026 because of the following key factors:
1. The termination of the $280 million sale of Riverside Apartments on June 17, 2026, Elme Communities' largest remaining asset, created significant uncertainty in the company's liquidation process. This event directly led Elme Communities to withdraw its previously estimated ranges of liquidating distributions, contributing to a sharp decline in investor confidence. The stock experienced a significant drop of 34.36% around June 25, 2026, driven by these liquidation challenges and broader market sentiment.
2. Unfavorable macroeconomic conditions in the real estate sector, particularly in the Washington D.C. metropolitan area, created a challenging environment for asset disposal. Throughout the period, the housing market experienced softening prices, with national listing prices down 2.4% year-over-year by June 2026. Elevated mortgage rates, hovering around 6.5%, and persistent core inflation, which was up 3.4% year-over-year in May 2026, further hindered property sales and impacted valuations for Elme Communities' remaining assets.
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Elme Communities (ELME) stock has lost about 35% since 2/28/2026 because of the following key factors:
1. The termination of the $280 million sale of Riverside Apartments on June 17, 2026, Elme Communities' largest remaining asset, created significant uncertainty in the company's liquidation process. This event directly led Elme Communities to withdraw its previously estimated ranges of liquidating distributions, contributing to a sharp decline in investor confidence. The stock experienced a significant drop of 34.36% around June 25, 2026, driven by these liquidation challenges and broader market sentiment.
2. Unfavorable macroeconomic conditions in the real estate sector, particularly in the Washington D.C. metropolitan area, created a challenging environment for asset disposal. Throughout the period, the housing market experienced softening prices, with national listing prices down 2.4% year-over-year by June 2026. Elevated mortgage rates, hovering around 6.5%, and persistent core inflation, which was up 3.4% year-over-year in May 2026, further hindered property sales and impacted valuations for Elme Communities' remaining assets.
3. Negative analyst sentiment and downgrades contributed to a cautious outlook on Elme Communities during its liquidation phase. While some occurred prior to the specified period, the continued neutral to negative analyst ratings reinforced investor reluctance. For instance, Truist downgraded Elme Communities to Hold with a reduced price target of $2 (from $18) in September 2025, reflecting concerns about dispositions and transaction fees. As of June 2026, analysts maintained a consensus "Reduce" rating for ELME.
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Stock Movement Drivers
Fundamental Drivers
The -32.6% change in ELME stock from 2/28/2026 to 6/29/2026 was primarily driven by a -32.6% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6292026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.15 | 1.45 | -32.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 242 | 242 | 0.0% |
| P/S Multiple | 0.8 | 0.5 | -32.6% |
| Shares Outstanding (Mil) | 88 | 88 | 0.0% |
| Cumulative Contribution | -32.6% |
Market Drivers
2/28/2026 to 6/29/2026| Return | Correlation | |
|---|---|---|
| ELME | -32.6% | |
| Market (SPY) | 8.3% | 4.7% |
| Sector (XLRE) | 3.2% | 11.4% |
Fundamental Drivers
The -91.6% change in ELME stock from 11/30/2025 to 6/29/2026 was primarily driven by a -91.5% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6292026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.36 | 1.45 | -91.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 247 | 242 | -2.0% |
| P/S Multiple | 6.2 | 0.5 | -91.5% |
| Shares Outstanding (Mil) | 88 | 88 | 0.2% |
| Cumulative Contribution | -91.6% |
Market Drivers
11/30/2025 to 6/29/2026| Return | Correlation | |
|---|---|---|
| ELME | -91.6% | |
| Market (SPY) | 9.0% | 1.9% |
| Sector (XLRE) | 9.7% | 0.3% |
Fundamental Drivers
The -90.8% change in ELME stock from 5/31/2025 to 6/29/2026 was primarily driven by a -90.7% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6292026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.71 | 1.45 | -90.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 244 | 242 | -0.8% |
| P/S Multiple | 5.7 | 0.5 | -90.7% |
| Shares Outstanding (Mil) | 88 | 88 | 0.1% |
| Cumulative Contribution | -90.8% |
Market Drivers
5/31/2025 to 6/29/2026| Return | Correlation | |
|---|---|---|
| ELME | -90.8% | |
| Market (SPY) | 27.2% | 3.7% |
| Sector (XLRE) | 11.4% | 3.6% |
Fundamental Drivers
The -89.2% change in ELME stock from 5/31/2023 to 6/29/2026 was primarily driven by a -90.3% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6292026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.46 | 1.45 | -89.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 217 | 242 | 11.3% |
| P/S Multiple | 5.4 | 0.5 | -90.3% |
| Shares Outstanding (Mil) | 88 | 88 | -0.3% |
| Cumulative Contribution | -89.2% |
Market Drivers
5/31/2023 to 6/29/2026| Return | Correlation | |
|---|---|---|
| ELME | -89.2% | |
| Market (SPY) | 84.3% | 12.9% |
| Sector (XLRE) | 38.2% | 21.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ELME Return | 24% | -29% | -14% | 10% | 18% | -91% | -92% |
| Peers Return | 70% | -33% | 3% | 20% | -9% | 8% | 39% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| ELME Win Rate | 67% | 42% | 33% | 67% | 58% | 17% | |
| Peers Win Rate | 85% | 27% | 45% | 60% | 37% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ELME Max Drawdown | -15% | -37% | -34% | -17% | -16% | -92% | |
| Peers Max Drawdown | -7% | -37% | -26% | -10% | -22% | -13% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AVB, EQR, MAA, CPT, UDR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/29/2026 (YTD)
How Low Can It Go
| Event | ELME | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -11.4% | -18.8% |
| % Gain to Breakeven | 12.8% | 23.1% |
| Time to Breakeven | 63 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.0% | -9.5% |
| % Gain to Breakeven | 26.6% | 10.5% |
| Time to Breakeven | 188 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.2% | -6.7% |
| % Gain to Breakeven | 25.3% | 7.1% |
| Time to Breakeven | 469 days | 31 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.3% | -19.2% |
| % Gain to Breakeven | 30.3% | 23.8% |
| Time to Breakeven | 93 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -12.1% | -3.7% |
| % Gain to Breakeven | 13.8% | 3.9% |
| Time to Breakeven | 34 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -11.6% | -12.2% |
| % Gain to Breakeven | 13.2% | 13.9% |
| Time to Breakeven | 42 days | 62 days |
In The Past
Elme Communities's stock fell -11.4% during the 2025 US Tariff Shock. Such a loss loss requires a 12.8% gain to breakeven.
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Asset Allocation
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| Event | ELME | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.0% | -9.5% |
| % Gain to Breakeven | 26.6% | 10.5% |
| Time to Breakeven | 188 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.2% | -6.7% |
| % Gain to Breakeven | 25.3% | 7.1% |
| Time to Breakeven | 469 days | 31 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.3% | -19.2% |
| % Gain to Breakeven | 30.3% | 23.8% |
| Time to Breakeven | 93 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -24.3% | -17.9% |
| % Gain to Breakeven | 32.1% | 21.8% |
| Time to Breakeven | 1239 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -49.2% | -53.4% |
| % Gain to Breakeven | 96.9% | 114.4% |
| Time to Breakeven | 194 days | 1085 days |
In The Past
Elme Communities's stock fell -11.4% during the 2025 US Tariff Shock. Such a loss loss requires a 12.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Elme Communities (ELME)
Elme Communities (symbol: ELME) is a real estate investment trust focused on owning and operating a diversified portfolio of properties within the Washington Metro area. The company utilizes its significant experience and market insights to manage and enhance its real estate assets, with a primary objective of creating value for its stakeholders.
The company's core business involves leasing and managing a variety of commercial and residential properties. As of a recent snapshot, its portfolio included approximately 3.7 million square feet of commercial space and 6,863 multifamily apartment units across 45 properties. These assets are categorized into 22 multifamily properties, 15 office properties, and 8 retail centers.
Elme Communities serves a broad clientele, encompassing businesses that require office or retail space, as well as individuals and families seeking residential apartment units. By concentrating its operations within the dynamic Washington Metro real estate market, the company positions itself as a key provider of diverse property solutions within this specific geographic region.
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Here are 1-2 brief analogies for Elme Communities:
- It's like a regional Brookfield, owning a mix of apartments, offices, and retail properties exclusively in the Washington D.C. metro area.
- Think of it as the Vornado Realty Trust of Washington D.C., but with a more balanced mix of apartments, offices, and retail properties.
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- Multifamily Property Leasing: Providing apartment units for rent to residents.
- Office Property Leasing: Offering commercial office spaces for lease to businesses.
- Retail Center Leasing: Supplying retail spaces for lease to various businesses.
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Elme Communities (ELME) is a real estate investment trust (REIT) that owns and operates a diversified portfolio of multifamily, office, and retail properties in the Washington Metro area. As such, its customers are a broad base of tenants rather than a few major entities. The company serves both individuals and businesses across its property types.
Its major customer categories are:
- Individuals seeking rental housing: These are residents, including individuals and families, who lease apartment units in Elme Communities' multifamily properties.
- Businesses leasing office space: This category includes various companies, organizations, and professional firms that rent office premises across Elme Communities' office property portfolio. These tenants represent diverse industries and sizes within the Washington Metro area.
- Retail businesses and service providers: These are retail stores, restaurants, and other service-oriented businesses that lease commercial space within Elme Communities' retail centers.
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Paul T. McDermott, Chairman of the Board, President and Chief Executive Officer
Paul T. McDermott was elected to the Board and named President and Chief Executive Officer of Elme Communities in October 2013, and became Chairman of the Board in 2018. Prior to joining Elme Communities (formerly WashREIT), he served as Senior Vice President and Managing Director for Rockefeller Group Investment Management Corp., a subsidiary of Mitsubishi Estate Co., Ltd., from 2010 to 2013, where he headed the domestic acquisitions team and interfaced with private equity clients. From 2006 to 2010, he was Principal and Chief Transaction Officer at PNC Realty Investors. He also held officer roles at Freddie Mac between 2002 and 2006, including Chief Credit Officer of the Multifamily Division, and was Head of the Washington, D.C. Region for Lend Lease Real Estate Investments from 1997 to 2002.
Steven M. Freishtat, Executive Vice President and Chief Financial Officer
Steven M. Freishtat became Executive Vice President and Chief Financial Officer of Elme Communities following a succession plan announced in November 2022, succeeding Stephen E. Riffee who retired at the end of February 2023. He joined Elme Communities in 2015, and his prior experience includes financial planning and analysis for Marriott and serving as a banker with CapitalSource. Mr. Freishtat holds a Bachelor of Science degree in Finance from Indiana University and a Master of Business Administration from Emory University.
Tiffany Butcher, Executive Vice President and Chief Operating Officer
Tiffany Butcher joined Elme Communities in July 2023. Before her role at Elme Communities, Ms. Butcher held various positions at JBG SMITH Properties since 2007, including Chief Residential Officer in January 2023 and Executive Vice President from 2017 to 2023.
W. Drew Hammond, Senior Vice President, Chief Administrative Officer and Treasurer
W. Drew Hammond joined Elme Communities in October 2012. He was promoted to Senior Vice President, Chief Accounting Officer and Treasurer as part of the CFO succession plan in November 2022. Prior to joining Elme Communities, he held various roles at CapitalSource, Inc. from 2003 to 2012, most recently as Controller. He also worked at Ernst & Young LLP as a Senior Manager and at Arthur Andersen LLP in various assurance practice positions.
Efrem Reid, Vice President, Human Resources
Efrem Reid joined Elme Communities in April 2023.
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The widespread and sustained adoption of remote and hybrid work models, which fundamentally reduces the demand for traditional office space, directly impacting a significant portion of Elme Communities' portfolio comprising 15 office properties in the Washington Metro area.
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Multifamily Market in Washington Metro Area
The Washington D.C. Metro multifamily market is a significant segment, with an inventory exceeding 700,000 units as of the second quarter of 2025. The sales volume for multifamily properties in the Washington metro area reached $2.6 billion in the fourth quarter of 2025 alone. In the first quarter of 2025, the multifamily sector recorded 11 transactions, amounting to $497 million in volume and encompassing 1,453 units. The average effective rent in the market was approximately $2,173 per month as of June 2024. Since early 2022, approximately 60,000 units have been added to the market, marking roughly a 15% expansion in inventory.Office Market in Washington Metro Area
The commercial real estate market for office space in the Washington, D.C. Metropolitan area comprises approximately 436.6 million square feet of rentable office space. More specifically, the Washington, D.C. office market itself, encompassing 803 buildings larger than 25,000 square feet, contains about 155.2 million square feet of rentable space. The average asking rents in this market were $43.70 per square foot at the close of 2025. Office investment sales recorded a total of $183.5 million across three transactions in the third quarter of 2025.Retail Market in Washington Metro Area
The retail market in the Washington, D.C. region demonstrated strong fundamentals, with investment activity totaling $1.8 billion in sales over the past year as of the third quarter of 2025. The asking rents in the market reached a record of $34.00 per square foot in the third quarter of 2025. The Washington, D.C. metropolitan statistical area (MSA) has one of the lowest retail square footage per capita among major MSAs, indicating a tight market with limited new supply. Retail availability in the D.C. metro stood at 4.8 percent as of January 2025.AI Analysis | Feedback
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Share Repurchases
- Elme Communities authorized a share repurchase program for up to $50 million in October 2023, valid until October 25, 2025.
- As of March 31, 2025, 13,743 shares were repurchased at an average price of $15.23, primarily reflecting restricted shares surrendered by employees for tax withholding obligations.
Share Issuance
- As of September 30, 2025, Elme Communities had 88,161,000 shares issued and outstanding, an increase from 88,029,000 shares at December 31, 2024.
Inbound Investments
- In November 2025, Elme Communities entered into a $520 million senior secured term loan with Goldman Sachs Bank USA, collateralized by its ten remaining properties as part of its liquidation process.
Capital Expenditures
- Capital expenditures were $38 million in 2022, $39 million in 2023, and $48 million in 2024.
- The company's business model focused on deploying capital into strategic renovations and value enhancements to drive occupancy rates and rental yields.
- As of May 2025, Elme Communities had a renovation pipeline of approximately 3,000 homes aimed at generating solid cash-on-cash returns.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 92.01 |
| Mkt Cap | 14.8 |
| Rev LTM | 1,965 |
| Op Inc LTM | 465 |
| FCF LTM | 644 |
| FCF 3Y Avg | 659 |
| CFO LTM | 953 |
| CFO 3Y Avg | 970 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.6% |
| Rev Chg 3Y Avg | 3.5% |
| Rev Chg Q | 1.3% |
| QoQ Delta Rev Chg LTM | 0.3% |
| Op Inc Chg LTM | -3.0% |
| Op Inc Chg 3Y Avg | 3.0% |
| Op Mgn LTM | 23.1% |
| Op Mgn 3Y Avg | 24.4% |
| QoQ Delta Op Mgn LTM | -0.3% |
| CFO/Rev LTM | 51.6% |
| CFO/Rev 3Y Avg | 51.3% |
| FCF/Rev LTM | 35.1% |
| FCF/Rev 3Y Avg | 35.6% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Residential | 224 | 209 | 190 | 151 | 145 |
| Other | 18 | 19 | 19 | 18 | 31 |
| Total | 242 | 228 | 209 | 169 | 176 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Residential | 141 | 135 | 122 | 95 | |
| Other | 13 | 13 | 14 | 13 | |
| Property management expenses | -9 | -8 | -7 | -6 | |
| General and administrative expenses | -25 | -26 | -28 | -28 | -24 |
| Depreciation and amortization | -96 | -89 | -92 | -73 | -120 |
| Real estate impairment | -42 | ||||
| Transformation costs | -6 | -10 | -7 | ||
| Corporate and Other | 11 | ||||
| Multifamily | 87 | ||||
| Office | 83 | ||||
| Total | 23 | -23 | -2 | -5 | 37 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Residential | 1,719 | 1,768 | 1,691 | 1,455 | 1,333 |
| Other | 127 | 132 | 181 | 421 | 1,077 |
| Total | 1,846 | 1,900 | 1,873 | 1,876 | 2,410 |
Price Behavior
| Market Price | $1.45 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 12/29/2006 | |
| Distance from 52W High | -91.7% | |
| 50 Days | 200 Days | |
| DMA Price | $2.02 | $8.23 |
| DMA Trend | down | down |
| Distance from DMA | -28.4% | -82.4% |
| 3M | 1YR | |
| Volatility | 72.2% | 96.5% |
| Downside Capture | -44.66 | 301.16 |
| Upside Capture | -124.95 | -50.01 |
| Correlation (SPY) | 2.3% | 3.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.11 | 0.39 | 0.49 | 0.40 | 0.41 | 0.53 |
| Up Beta | 0.87 | 0.64 | 0.54 | 0.84 | 0.86 | 0.56 |
| Down Beta | 0.05 | 0.72 | 0.43 | -2.67 | -1.37 | 0.10 |
| Up Capture | -51% | 13% | 26% | -27% | 3% | 17% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 8 | 21 | 27 | 50 | 114 | 358 |
| Down Capture | 51% | 20% | 75% | 313% | 198% | 109% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 8 | 14 | 26 | 58 | 118 | 365 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ELME | |
|---|---|---|---|---|
| ELME | -90.9% | 96.1% | -1.36 | - |
| Sector ETF (XLRE) | 12.5% | 13.9% | 0.61 | 3.2% |
| Equity (SPY) | 22.2% | 12.5% | 1.32 | 3.2% |
| Gold (GLD) | 20.2% | 27.8% | 0.65 | -1.8% |
| Commodities (DBC) | 21.3% | 18.6% | 0.90 | -12.2% |
| Real Estate (VNQ) | 15.6% | 13.6% | 0.82 | 3.0% |
| Bitcoin (BTCUSD) | -44.0% | 42.6% | -1.25 | 4.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ELME | |
|---|---|---|---|---|
| ELME | -40.1% | 48.3% | -0.62 | - |
| Sector ETF (XLRE) | 3.2% | 19.1% | 0.07 | 30.4% |
| Equity (SPY) | 13.5% | 17.1% | 0.61 | 21.2% |
| Gold (GLD) | 17.2% | 18.3% | 0.76 | 2.8% |
| Commodities (DBC) | 7.1% | 19.5% | 0.26 | -0.4% |
| Real Estate (VNQ) | 2.9% | 18.8% | 0.05 | 31.5% |
| Bitcoin (BTCUSD) | 13.6% | 53.8% | 0.44 | 10.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ELME | |
|---|---|---|---|---|
| ELME | -23.0% | 39.9% | -0.36 | - |
| Sector ETF (XLRE) | 6.9% | 20.4% | 0.29 | 46.0% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 35.1% |
| Gold (GLD) | 11.5% | 16.1% | 0.58 | 2.3% |
| Commodities (DBC) | 5.7% | 18.0% | 0.24 | 8.8% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 48.6% |
| Bitcoin (BTCUSD) | 55.0% | 66.4% | 0.95 | 8.9% |
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Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/23/2025 | -1.5% | -2.7% | 0.4% |
| 8/5/2025 | -0.9% | 0.5% | 4.5% |
| 5/1/2025 | 1.8% | 0.6% | 0.8% |
| 2/13/2025 | 11.2% | 10.3% | 12.7% |
| 11/4/2024 | 1.2% | 5.1% | -0.8% |
| 8/1/2024 | 1.4% | 1.3% | 5.7% |
| 5/1/2024 | 0.9% | 0.5% | 1.6% |
| 2/15/2024 | -3.1% | -9.1% | -8.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 13 |
| # Negative | 13 | 13 | 9 |
| Median Positive | 1.5% | 1.3% | 2.6% |
| Median Negative | -1.5% | -3.1% | -5.1% |
| Max Positive | 11.2% | 10.3% | 32.3% |
| Max Negative | -4.7% | -9.1% | -15.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/23/2025 | -1.5% | -2.7% | 0.4% |
| 8/5/2025 | -0.9% | 0.5% | 4.5% |
| 5/1/2025 | 1.8% | 0.6% | 0.8% |
| 2/13/2025 | 11.2% | 10.3% | 12.7% |
| 11/4/2024 | 1.2% | 5.1% | -0.8% |
| 8/1/2024 | 1.4% | 1.3% | 5.7% |
| 5/1/2024 | 0.9% | 0.5% | 1.6% |
| 2/15/2024 | -3.1% | -9.1% | -8.6% |
| 10/26/2023 | -3.7% | -2.2% | -3.6% |
| 7/31/2023 | -4.7% | -1.8% | -5.1% |
| 4/27/2023 | -3.1% | -7.8% | -15.0% |
| 2/16/2023 | 1.5% | 0.8% | -6.2% |
| 10/27/2022 | 2.6% | -0.5% | 3.5% |
| 7/28/2022 | -0.7% | -6.2% | -11.2% |
| 4/27/2022 | 1.2% | -3.1% | -2.3% |
| 2/17/2022 | -3.9% | -3.6% | 2.1% |
| 10/28/2021 | -1.1% | -0.4% | -0.1% |
| 7/29/2021 | -1.6% | -4.3% | 1.0% |
| 4/28/2021 | -1.4% | -0.7% | 1.8% |
| 2/11/2021 | -1.2% | -5.4% | 5.5% |
| 10/29/2020 | -0.4% | 5.9% | 32.3% |
| 7/28/2020 | 2.8% | 4.3% | 2.6% |
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 13 |
| # Negative | 13 | 13 | 9 |
| Median Positive | 1.5% | 1.3% | 2.6% |
| Median Negative | -1.5% | -3.1% | -5.1% |
| Max Positive | 11.2% | 10.3% | 32.3% |
| Max Negative | -4.7% | -9.1% | -15.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 10/24/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/27/2026 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 02/18/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 10/24/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/27/2026 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 02/18/2022 | 10-K |
| 09/30/2021 | 10/29/2021 | 10-Q |
| 06/30/2021 | 08/03/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/16/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 07/29/2020 | 10-Q |
| 03/31/2020 | 04/27/2020 | 10-Q |
| 12/31/2019 | 02/19/2020 | 10-K |
| 09/30/2019 | 10/29/2019 | 10-Q |
| 06/30/2019 | 07/30/2019 | 10-Q |
| 03/31/2019 | 04/29/2019 | 10-Q |
| 12/31/2018 | 02/19/2019 | 10-K |
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Multi-Family Residential REITs Resources |
| Multi-Housing News |
| Multifamily Executive |
| National Apartment Association |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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