Elme Communities
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
ELME$1.77+0.6%Stored close · as of Oct 22, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| ELME COMMUNITIES AND SUBSIDIARIES | ||
|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||
| (IN THOUSANDS) | ||
| (UNAUDITED) | ||
| Three Months Ended March 31, | ||
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(3,647) | $(3,643) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 24,943 | 21,536 |
| Credit losses on lease related receivables | 1,451 | 703 |
| Share-based compensation expense | 1,090 | 1,188 |
| Net amortization of debt premiums, discounts and related financing costs | 1,058 | 1,048 |
| Loss on extinguishment of debt | — | 54 |
| Gain on land easements | (1,410) | — |
| Changes in operating other assets | (941) | (872) |
| Changes in operating other liabilities | (1,328) | (3,725) |
| Net cash provided by operating activities | 21,216 | 16,289 |
| Cash flows from investing activities | ||
| Capital improvements to real estate | (13,617) | (5,569) |
| Non-real estate capital improvements | (5) | (222) |
| Payments received for land easements | 3,862 | — |
| Net cash used in investing activities | (9,760) | (5,791) |
| Cash flows from financing activities | ||
| Line of credit borrowings (repayments), net | 3,000 | (20,000) |
| Dividends paid | (15,911) | (14,917) |
| Repayments of unsecured term loan debt | — | (100,000) |
| Proceeds from term loan | — | 125,000 |
| Payment of financing costs | — | (844) |
| Distributions to noncontrolling interests | (2) | (2) |
| Proceeds from dividend reinvestment program | — | 248 |
| Payment of tax withholdings for restricted share awards | (178) | (1,304) |
| Net cash used in financing activities | (13,091) | (11,819) |
| Net decrease in cash, cash equivalents and restricted cash | (1,635) | (1,321) |
| Cash, cash equivalents and restricted cash at beginning of period | 8,538 | 9,852 |
| Cash, cash equivalents and restricted cash at end of period | $6,903 | $8,531 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest, net of amounts capitalized | $11,972 | $8,954 |
| Change in accrued capital improvements and development costs | (7,309) | 216 |
| Dividend payable | 15,888 | 15,869 |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $4,199 | $7,044 |
| Restricted cash | 2,704 | 1,487 |
| Cash, cash equivalents and restricted cash | $6,903 | $8,531 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.