Washington Real Estate Inv.

Elme Communities (NYSE:ELME ) Q1 2025 Earnings Conference Call May 2, 2025 10:00 AM ET Company Participants Amy Hopkins - VP, IR Paul McDermott - CEO Tiffany Butcher - COO Steve Freishtat - CFO Conference Call Participants Cooper Clark - Wells Fargo Operator Good day, and welcome to the Elme Communities' First Quarter 2025 Earnings Conference Call. As a reminder, today's call is being recorded.» Mehr auf seekingalpha.com

Elme (ELME) came out with quarterly funds from operations (FFO) of $0.24 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to FFO of $0.23 per share a year ago.» Mehr auf zacks.com

Strong Same-store NOI and Occupancy Growth Operating Initiatives Driving Higher Fee Income Solid Rental Rate Growth BETHESDA, Md., May 01, 2025 (GLOBE NEWSWIRE) -- Elme Communities (the “Company” or “Elme”) (NYSE: ELME), a multifamily REIT, reported financial and operating results today for the quarter ended March 31, 2025: Financial Results         Three months ended March 31,     2025       2024   Net loss per diluted share $                   (0.05 )   $                (0.04 ) Core FFO per diluted share                        0.24                          0.23                   Operational Highlights Same-store multifamily NOI increased by 5.5% compared to the prior year quarter Same-store Average Effective Monthly Rent Per Home increased 1.7% compared to the prior year quarter Effective blended Lease Rate Growth was 1.9% for our Same-Store Portfolio during the quarter, comprised of effective new Lease Rate Growth of (2.0)% and effective renewal Lease Rate Growth of 5.0% Retention was 62% during the quarter, in line with expectations Same-store multifamily Average Occupancy was 94.8% during the quarter, up 0.5% compared to the prior year quarter Balance Sheet Available liquidity was $324 million as of March 31, 2025, consisting of availability under the Company's revolving credit facility and cash on hand Annualized first quarter Net Debt to Adjusted EBITDA ratio was 5.6x The Company has a strong balance sheet with only $125 million of debt maturing before 2028 and no secured debt “Our operating business delivered strong results this quarter, and demand trends across our portfolio remain solid as we head into our peak leasing season,” said Paul T.» Mehr auf globenewswire.com