Elme Communities reports Q4 Core FFO $0.24/share; same-store NOI up 11.6%; raises dividend 6%

Elme Communities

2022-FY EPS reported -$0.36 revenue$209,380,000

Full-year 2022 Core FFO $0.88/diluted share; net loss $0.36/share; NOI $135.4M.
Q4 same-store multifamily NOI increased 11.6% YoY; effective blended lease rate growth 5.7% (new 1.1%, renewal 10.1%).
Quarterly dividend raised ~6% to $0.18/share, payable April 5, 2023 to holders of record March 22.
2023 Core FFO guidance reaffirmed at $0.96-$1.04/share; same-store multifamily NOI growth expected 9%-11%.
Closed $125M term loan (SOFR+95bps); available liquidity >$650M; no debt maturities until 2025.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Elme Communities updated its quarter and year ended December 31, 2022 guidance (reaffirmed).

Period: quarter and year ended December 31, 2022
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Elme Communities (the "Company") (NYSE: ELME), a multifamily REIT with properties in the Washington DC metro area and the Sunbelt, reported financial and operating results today for the quarter and year ended December 31, 2022

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Source: SEC EDGAR

accession 0000104894-23-000024

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