Elme Communities Q3 2022: Net loss $10.7M, Core FFO $0.23; same-store NOI up 10.4%; guidance tightened

Elme Communities

2022-Q3 EPS reported -$0.32 revenue$153,787,000

Net loss $10.7M ($0.12 diluted); Core FFO $20.5M ($0.23 diluted).
Same-store multifamily NOI increased 10.4% YoY; effective blended lease rate growth 10.3% same-store.
2022 Core FFO guidance tightened to $0.87-$0.89; 2023 guidance reaffirmed at $0.96-$1.04.
Quarterly dividend declared $0.17/share, payable Jan 5, 2023 to holders of record Dec 22, 2022.
No additional acquisitions expected in 2022 due to shifting market conditions; $125M capacity available.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Elme Communities reported the quarter ended September 30, 2022 results: net income $10.7 million, EPS $0.12 per diluted share. Guidance reaffirmed.

Period: the quarter ended September 30, 2022
Net income: $10.7 million
EPS: $0.12 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Elme Communities (the “Company”) (NYSE: ELME), a multifamily REIT with properties in the Washington metro area and the Sunbelt, reported financial and operating results today for the quarter ended September 30, 2022: Financial Results • Net loss was $10.7 million, or $0.12 per diluted share • NAREIT FFO was $12.9 million, or $0.15 per diluted share • Core FFO was $20.5 million, or $0.23 per diluted share • Net Operating Income (NOI) was $35.0 million

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Source: SEC EDGAR

accession 0000104894-22-000108

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