Elme Q3 net loss $3M, Core FFO $0.23; tightens FY guidance to $0.92-$0.94

Elme Communities

2024-Q3 EPS reported -$0.12 revenue$180,671,000

Net loss of $3.0M ($0.03 diluted EPS); NAREIT FFO $20.5M ($0.23); Core FFO $20.7M ($0.23).
Same-store multifamily NOI up 2.3% YoY; blended lease rate growth 2.1% (new -1.5%, renewal 4.5%).
FY 2024 Core FFO guidance tightened to $0.92-$0.94 per share; midpoint unchanged.
Quarterly dividend maintained at $0.18/share; payable Jan 6, 2025 to holders of record Dec 19.
Available liquidity $337M; net debt/EBITDA 5.6x; only $125M debt maturing before 2028.

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