Elme Communities Shares Rise After Revised Liquidation Payout Outlook
Elme Communities (NYSE:ELME) shares rose by 9.1% on Monday following the company's updated liquidation payout guidance and a new agreement to sell its Riverside Apartments property for $250 million, replacing an earlier terminated deal from May 2026. The revised estimated total liquidating distributions per share are now between $16.41 and $16.61, down slightly from the previous range of $16.74 to $17.02 due to a lower valuation for Riverside Apartments. The company has already sold six properties in 2026 for about $294 million and expects to complete sales on four more assets by year-end. Elme remains on track with its plan to delist from the NYSE and dissolve during Q4 2026, having previously received shareholder approval. Shareholders are expected to receive an additional distribution of between $1.74 and $1.94 per share as remaining assets are sold.
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