WashREIT Q2 net loss $8.9M; FY Core FFO guidance $0.86-$0.90 (lowered $0.02 midpoint)

Elme Communities

2022-Q2 EPS reported -$0.19 revenue$99,184,000

Net loss $8.9M (-$0.10 diluted EPS); Core FFO $18.2M ($0.21 diluted EPS).
Same-store multifamily NOI +5.1% YoY; blended lease rate growth 11.2% (same-store), 16.9% (Atlanta).
Completed $178M acquisitions of Alder Park and Marietta Crossing in Georgia in May 2022.
FY2022 Core FFO guidance $0.86-$0.90/share (lowered $0.02 at midpoint); same-store NOI growth guidance raised to 8.5%-9.5%.
Quarterly dividend $0.17/share declared, payable Oct 5, 2022 to holders of record Sep 21, 2022.

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