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Mar 31, 2025
Elme Communities Q1 2025 Earnings Report
Reported financial and operating results for the quarter ended March 31, 2025
Key Takeaways
Elme Communities reported a net loss of $4.7 million for Q1 2025. Despite this, the company saw strong operational performance with a 5.5% increase in same-store multifamily NOI and a 0.5% increase in same-store multifamily average occupancy. The company also maintained a strong balance sheet with $324 million in available liquidity.
Net loss for Q1 2025 was $4.7 million, compared to a net loss of $3.6 million in the prior year quarter.
Core FFO per diluted share was $0.24, an increase from $0.23 in the prior year quarter.
Same-store multifamily Net Operating Income increased by 5.5% compared to the prior year quarter.
Same-store multifamily Average Occupancy was 94.8% during the quarter, up 0.5% compared to the prior year quarter.
Revenue by Segment
Forward Guidance
Elme Communities is reiterating its guidance for 2025, expecting Core FFO for 2025 to range from $0.91 to $0.97 per fully diluted share.
Positive Outlook
- Managed Wi-Fi rollout is progressing well and generating income faster than expected.
- Atlanta bad debt is continuing to decline year-over-year.
- Improvement in bad debt is expected to be a larger contributor to revenue growth in 2025.
- Expects Same-store multifamily Revenue growth between 2.1% and 3.6% for the full year 2025.
- Expects Same-store multifamily NOI growth between 1.5% and 3.5% for the full year 2025.
Challenges Ahead
- Effects of federal workforce reductions are still evolving.
- Guidance is based on factors outside the Company's control, including economic factors such as inflation and interest rate changes.
- Guidance does not consider any potential future acquisitions or dispositions in 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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