BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — Elme Communities (ELME) on Thursday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $21.6 million, or 24 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $4.7 million, or 5 cents per share.
The real estate investment trust, based in Bethesda, Maryland, posted revenue of $61.5 million in the period.
Elme expects full-year funds from operations in the range of 91 cents to 97 cents per share.
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