WashREIT provides 2023 guidance with Core FFO $0.96-$1.04, 14% growth, and strong leasing trends

Elme Communities

2023 Core FFO guidance of $0.96 to $1.04 per share; midpoint implies 14% growth over 2022.
Reaffirms 2022 Core FFO guidance of $0.86 to $0.90 per share.
Same-store multifamily blended lease rate growth was 11.1% in July and 10.6% in August; occupancy ~95.6%.
Non-same-store multifamily blended lease rate growth ~17.4% in July and August 2022.
Expects to deploy remaining $125M in 2022 acquisitions, targeting 25% of homes in Southeast by year-end.

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