29d • General discussion
ELME Windup
ELME is a multifamily REIT in the final stages of dissolution. After selling the bulk of its portfolio and paying a massive $14.67/share special dividend, it is now a "clean" play on the remaining assets.
- Upside Potential: The stock trades at $2.16, while management guides for additional distributions between $2.35 and $2.80/share. This implies a 9% to 30% spread.
- Timeline: Further distributions are expected in Q3 or Q4 2026, leading to a projected base-case Internal Rate of Return (IRR) of ~30%.
A full write up of this idea can be fount at Special Situations Investing website: https://www.specialsituationinvestments.com/2026/01/guest-pitch-elme-communities-elme/
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ELME Windup
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