Elme Communities Announces Third Quarter 2024 Results
Elme Communities (ELME)
Company Research
Source: GlobeNewswire
BETHESDA, Md., Nov. 04, 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 September 30, 2024: Financial Results Net loss was $3.0 million, or $0.03 per diluted shareNAREIT FFO was $20.5 million, or $0.23 per diluted shareCore FFO was $20.7 million, or $0.23 per diluted shareNet Operating Income (NOI) was $38.8 million Operational Highlights Same-store multifamily NOI increased by 2.3% compared to the prior year quarterEffective blended Lease Rate Growth was 2.1% for our Same-Store Portfolio during the quarter, comprised of effective new Lease Rate Growth of (1.5)% and effective renewal Lease Rate Growth of 4.5%Average Effective Monthly Rent Per Home increased 2.4% compared to the prior year quarter for our Same-Store PortfolioSame-store Retention was 66%, up 5% compared to the prior ye
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ELME
News
- Elme Communities (NYSE: ELME) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating. They now have a $18.00 price target on the stock, down previously from $19.00.MarketBeat
- Elme Communities (NYSE: ELME) is now covered by analysts at Wolfe Research. They set a "peer perform" rating on the stock.MarketBeat
- Elme Communities to Release Third Quarter 2024 Results on Monday, November 4thGlobeNewswire
ELME
Earnings
- 11/4/24 - Miss
ELME
Sec Filings
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- ELME's page on the SEC website