---
schema_version: "secwatch.filing_event.v1"
accession: "0000104894-23-000080"
form_type: "8-K"
ticker: "ELME"
cik: "0000104894"
company_name: "Elme Communities"
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T21:41:34.032435+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Elme Q2 net loss $0.03/shr, Core FFO $0.24; lowers 2023 Core FFO guidance to $0.96-$1.00

## Summary
- Net loss $2.6M ($0.03/diluted); Core FFO $21.4M ($0.24/diluted) up 14% YoY.
- Same-store multifamily NOI grew 10.9% YoY; effective blended lease rate growth 3.7% (new 0.4%, renewal 6.4%).
- Completed internalization of community-level operations; retained 93% of team. Hired Tiffany Butcher as COO.
- 2023 Core FFO guidance lowered to $0.96-$1.00 per share from $0.96-$1.02; same-store NOI growth now 8-9% (prev 9-10.5%).
- Dividend maintained at $0.18/quarter; paid Oct 4 to shareholders of record Sep 20.

## SEC filing metadata
- accession: 0000104894-23-000080
- form_type: 8-K
- ticker: ELME
- cik: 0000104894
- company_name: Elme Communities
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/104894/000010489423000080/0000104894-23-000080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/104894/000010489423000080/elme-20230731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000104894-23-000080
- JSON: https://secwatch.observer/filing/0000104894-23-000080.json
- Plain text: https://secwatch.observer/filing/0000104894-23-000080.txt

## Key facts
- Earnings Releases
  Elme Communities reported quarter ended June 30, 2023 results: net income Net loss was $2.6 million, or $0.03 per diluted share, EPS $0.03 per diluted share. Guidance lowered.
  - Period: quarter ended June 30, 2023
  - Net income: Net loss was $2.6 million, or $0.03 per diluted share
  - EPS: $0.03 per diluted share
  - Guidance: lowered
  - Result: reported results
  source text: Elme Communities (the "Company") (NYSE: ELME), a multifamily REIT with communities in the Washington DC metro area and the Sunbelt, reported financial and operating results today for the quarter ended June 30, 2023: Financial Results • Net loss was $2.6 million, or $0.03 per diluted share • NAREIT FFO was $18.8 million, or $0.21 per diluted share • Core FFO was $21.4 million, or $0.24 per diluted share, up 14% from the prior year period driven by rental rate growth • Net Operating Income (NOI) was $36.3 million, up 11% from the prior year period driven by rental rate growth
  evidence_url: https://www.sec.gov/Archives/edgar/data/104894/000010489423000080/0000104894-23-000080-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.