Elme Communities ( (ELME) ) has provided an announcement.
Elme Communities, a multifamily REIT operating in the Washington and Atlanta metro areas, reported a net loss of $3 million for Q3 2024 but demonstrated robust operational metrics with a net operating income of $38.8 million. The company experienced a 2.3% rise in same-store NOI and increased average rent per home by 2.4%. Despite challenges in Atlanta, Elme remains optimistic about future improvements due to favorable supply-demand dynamics. With solid liquidity and a strong balance sheet, Elme has tightened its Core FFO guidance for 2024, reflecting confidence in its financial health.
Learn more about ELME stock on TipRanks’ Stock Analysis page.