Loading...
•
Dec 31, 2021
Elme Communities Q4 2021 Earnings Report
Reported financial and operating results for the quarter and year ended December 31, 2021.
Key Takeaways
WashREIT reported a net loss of $6.8 million, or $0.08 per diluted share, for the fourth quarter of 2021. NAREIT FFO was $13.3 million, or $0.16 per diluted share, and Core FFO was $0.17 per diluted share. Same-store Multifamily NOI increased by 4.2% year-over-year and 8.0% on a cash basis.
Net loss was $6.8 million, or $0.08 per diluted share.
NAREIT FFO was $13.3 million, or $0.16 per diluted share.
Core FFO was $0.17 per diluted share.
Same-store Multifamily NOI increased by 4.2% year-over-year and 8.0% on a cash basis.
Forward Guidance
Core FFO for 2022 is expected to range from $0.87 to $0.93 per fully diluted share. Same-store multifamily NOI growth is expected to range between 7.75% to 9.75%.
Positive Outlook
- Same-store multifamily NOI growth is expected to range between 7.75% to 9.75%
- Same-store multifamily and Trove NOI, which was fully delivered and invested by the start of 2021, is expected to grow between 11.5% and 13.5%
- Non same-store multifamily NOI is expected to range from $17.75 million to $18.5 million in 2022 including Trove, which is expected to contribute approximately $7.0 million of NOI
- Other same-store NOI, which consists solely of Watergate 600, is expected to range from $13.0 million to $13.75 million
- Approximately $270 million to $290 million of additional multifamily acquisitions are expected to be completed in the Southeastern markets of Atlanta, and/or Charlotte, Raleigh/Durham in the first half of the year
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...