Elme Communities
ELME on NYSE. Elme Communities rents apartments to residents in the Washington, DC area and the Sunbelt. Market value $156m.
Figures from the annual report for the year ended 31 December 2025.
We can't read total debt from the filing, so debt is left out.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
What to watch out for
See Real estate stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 60 of 100. Price score: not known. Our list needs 70 on quality and 60 on price.
$1.75 a share, 39% above its 1-year low
Over the past year the price has ranged from $1.26 to $17.68.
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $169m | $209m | $228m | $242m | n/a |
| Operating margin | |||||
| Operating margin | -2.7% | -0.8% | -10.1% | 9.7% | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.09bn | 0.09bn | 0.09bn | 0.09bn | 0.09bn |
Health checks
- Free cash flow positive4 of 4 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Not enough data
- DebtUnknown
- Revenue growth, five yearsSlow, 8.3% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
| Quarter to | Amount |
|---|---|
| September 2024 | $61m |
| December 2024 | $61m |
| March 2025 | $61m |
| June 2025 | $62m |
| September 2025 | $62m |
| December 2025 | $21m |
| March 2026 | Not reported |
| June 2026 | Not reported |
| Quarter to | Amount |
|---|---|
| September 2024 | -$3m |
| December 2024 | -$3m |
| March 2025 | -$5m |
| June 2025 | -$4m |
| September 2025 | -$124m |
| December 2025 | -$22m |
| March 2026 | Not reported |
| June 2026 | Not reported |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 27 February 2026
- Next quarterly (estimated, 10-Q)
- 30 October 2026
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 159 funds in all.
- Irenic CapitalAdam Katz
- Value
- $3m
- Share of fund
- 0.2%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Irenic CapitalAdam Katz | $3m | 0.2% |
Largest holders overall
- Highbridge Capital Management$11m
- Trium Capital LLP$5mAdded
- Vanguard Capital Management$4m
- Jane Street Group$4mCut
- Almitas Capital$4m
- Newtyn Management$4mAdded
- Qube Research & Technologies$4mCut
- Verition Fund Management$3mCut
- Millennium Management$3mCut
- Toronto Dominion Bank$3mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- HIGHBRIDGE CAPITAL MANAGEMENT LLCPassive investor8.4%+2.0 ptsSince 31 March 2026
- FMR LLCPassive investorat least 4.9%(filed with 1 related holder)Since 31 March 2025
- Millennium Management LLCPassive investorat least 2.5%−2.8 pts(filed with 2 related holders)Since 30 June 2026
- STATE STREET CORPORATIONPassive investorSold down below 5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- BlackRock, Inc.Passive investorSold down below 5%Since 31 January 2026
| Holder | Stake | Since | |
|---|---|---|---|
HIGHBRIDGE CAPITAL MANAGEMENT LLC Passive investor | 8.4%+2.0 pts | 31 March 2026 | |
FMR LLC Passive investor | at least 4.9% (filed with 1 related holder) | 31 March 2025 | |
Millennium Management LLC Passive investor | at least 2.5%−2.8 pts (filed with 2 related holders) | 30 June 2026 | |
STATE STREET CORPORATION Passive investor | Sold down below 5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
BlackRock, Inc. Passive investor | Sold down below 5% | 31 January 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 27 Feb 2026, plus the 10-Q filed 31 Jul 2026 and 8 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.