WashREIT rebrands as Elme Communities; ticker to change to ELME on Oct 20; expects 14% Core FFO growth in 2023

Elme Communities

Name changed to Elme Communities; ticker symbol on NYSE to become 'ELME' effective Oct 20, 2022.
Expects ~14% year-over-year Core FFO growth in 2023, highest in over 20 years.
Same-store multifamily NOI growth expected at 9.0% to 11.0% in 2023.
Expanded Sunbelt exposure: 20% of apartment homes in Sunbelt vs 3% a year ago.
Internalization of community-level operations to be completed by mid-2023.

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