Elme Communities Announces Second Quarter 2024 Results
Elme Communities (ELME)
Company Research
Source: GlobeNewswire
BETHESDA, Md., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Elme Communities (the “Company”) (NYSE: ELME), a multifamily REIT with communities in the Washington, DC metro area and the Atlanta metro area, reported financial and operating results today for the quarter ended June 30, 2024: Financial Results Net loss was $3.5 million, or $0.04 per diluted shareNAREIT FFO was $20.4 million, or $0.23 per diluted shareCore FFO was $20.5 million, or $0.23 per diluted shareNet Operating Income (NOI) was $38.1 million Operational Highlights Same-store multifamily NOI increased by 1.3% compared to the prior year periodEffective blended Lease Rate Growth increased to 3.2% for our Same-Store Portfolio during the quarter, comprised of effective new Lease Rate Growth of 0.2% and effective renewal Lease Rate Growth of 5.4%Average Effective Monthly Rent Per Home increased 2.5% compared to the prior year period for our Same-Store PortfolioSame-store Retention was 65% while achieving strong renewal Lease Ra
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ELME
News
- Elme Communities (NYSE: ELME) had its price target raised by analysts at JPMorgan Chase & Co. from $17.00 to $19.00. They now have an "overweight" rating on the stock.MarketBeat
- Elme Communities (NYSE: ELME) had its price target raised by analysts at Wells Fargo & Company from $14.00 to $17.00. They now have an "equal weight" rating on the stock.MarketBeat
- Elme Communities Announces New $500 Million Credit FacilityGlobeNewswire
ELME
Earnings
- 8/1/24 - In-Line
ELME
Sec Filings
- 8/2/24 - Form 10-Q
- 8/1/24 - Form 8-K
- 7/11/24 - Form 4
- ELME's page on the SEC website