Elme Communities reported a net loss of $3.1 million, or $0.04 per diluted share, for the fourth quarter of 2023. NAREIT FFO was $21.0 million, or $0.24 per diluted share, up 14.3% compared to the prior year period. Core FFO was $20.9 million, or $0.24 per diluted share, unchanged compared to the prior year period. Same-store multifamily NOI increased by 4.5% compared to the prior year period.
Net loss was $3.1 million, or $0.04 per diluted share.
NAREIT FFO was $21.0 million, or $0.24 per diluted share, up 14.3% compared to the prior year period.
Core FFO was $20.9 million, or $0.24 per diluted share, unchanged compared to the prior year period.
Net Operating Income (NOI) was $38.6 million, up 4.6% compared to the prior year period.
Elme expects Core FFO for 2024 to range from $0.90 to $0.96 per fully diluted share. Same-store multifamily NOI growth is expected to range from 0.25% to 2.0%.
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