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10-Q Filing

ELME COMMUNITIES CIK: 104894 Q1 2012
Filing Information
Form Type 10-Q
Accession Number 0000104894-12-000052
Period End Date 20120331
Filing Date 20120507
Fiscal Year 2012
Fiscal Period Q1
XBRL Instance wre-20120331.xml
Balance Sheet 75 line items
Line Item Tag Value Unit Period
Rents and other receivables, allowance for doubtful accounts AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $9.65M USD Point-in-time
Rents and other receivables, allowance for doubtful accounts AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $8.92M USD Point-in-time
Preferred Stock, Par or Stated Value Per Share PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred Stock, Par or Stated Value Per Share PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred Stock, Shares Authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Preferred Stock, Shares Authorized PreferredStockSharesAuthorized 10.00M shares Point-in-time
Land Land $472.20M USD Point-in-time
Preferred Stock, Shares Issued PreferredStockSharesIssued 0.00 shares Point-in-time
Land Land $472.20M USD Point-in-time
Preferred Stock, Shares Issued PreferredStockSharesIssued 0.00 shares Point-in-time
Income producing property RentalProperties $1.95B USD Point-in-time
Preferred Stock, Shares Outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred Stock, Shares Outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Income producing property RentalProperties $1.93B USD Point-in-time
Real estate investment property, at cost RealEstateInvestmentPropertyAtCost $2.42B USD Point-in-time
Shares of beneficial interest, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Shares of beneficial interest, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Real estate investment property, at cost RealEstateInvestmentPropertyAtCost $2.41B USD Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $556.83M USD Point-in-time
Shares of beneficial interest, shares authorized CommonStockSharesAuthorized 100.00M shares Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $535.73M USD Point-in-time
Shares of beneficial interest, shares authorized CommonStockSharesAuthorized 100.00M shares Point-in-time
Shares of beneficial interest, shares issued CommonStockSharesIssued 66.27M shares Point-in-time
Net income producing property RealEstateInvestments $1.86B USD Point-in-time
Net income producing property RealEstateInvestments $1.87B USD Point-in-time
Shares of beneficial interest, shares issued CommonStockSharesIssued 66.31M shares Point-in-time
Shares of beneficial interest, shares outstanding CommonStockSharesOutstanding 66.27M shares Point-in-time
Shares of beneficial interest, shares outstanding CommonStockSharesOutstanding 66.31M shares Point-in-time
Development in progress DevelopmentInProcess $44.24M USD Point-in-time
Development in progress DevelopmentInProcess $43.09M USD Point-in-time
Total real estate held for investment, net RealEstateInvestmentPropertyNet $1.91B USD Point-in-time
Total real estate held for investment, net RealEstateInvestmentPropertyNet $1.91B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $17.81M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $12.48M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $78.77M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $12.77M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $21.92M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $19.42M USD Point-in-time
Rents and other receivables, net of allowance for doubtful accounts of $9,653 and $8,921, respectively AccountsAndNotesReceivableNet $53.83M USD Point-in-time
Rents and other receivables, net of allowance for doubtful accounts of $9,653 and $8,921, respectively AccountsAndNotesReceivableNet $54.73M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $120.60M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $114.86M USD Point-in-time
Total assets Assets $2.12B USD Point-in-time
Total assets Assets $2.22B USD Point-in-time
Total assets Assets $2.12B USD Point-in-time
Notes payable NotesPayable $657.56M USD Point-in-time
Notes payable NotesPayable $657.47M USD Point-in-time
Mortgage notes payable SecuredDebt $426.49M USD Point-in-time
Mortgage notes payable SecuredDebt $427.71M USD Point-in-time
Lines of credit LineOfCredit $99.00M USD Point-in-time
Lines of credit LineOfCredit $109.00M USD Point-in-time
Accounts payable and other liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $51.15M USD Point-in-time
Accounts payable and other liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $57.77M USD Point-in-time
Advance rents AdvanceRent $15.06M USD Point-in-time
Advance rents AdvanceRent $13.74M USD Point-in-time
Tenant security deposits SecurityDepositLiability $8.86M USD Point-in-time
Tenant security deposits SecurityDepositLiability $8.95M USD Point-in-time
Total liabilities Liabilities $1.27B USD Point-in-time
Total liabilities Liabilities $1.26B USD Point-in-time
Preferred shares; $0.01 par value; 10,000 shares authorized; no shares issued and outstanding PreferredStockValue - USD Point-in-time
Preferred shares; $0.01 par value; 10,000 shares authorized; no shares issued and outstanding PreferredStockValue - USD Point-in-time
Shares of beneficial interest; $0.01 par value; 100,000 shares authorized: 66,310 and 66,265 shares issued and 66,309 and 66,265 shares outstanding at March 31, 2012 and December 31, 2011, respectively CommonStockValue $662.00K USD Point-in-time
Shares of beneficial interest; $0.01 par value; 100,000 shares authorized: 66,310 and 66,265 shares issued and 66,309 and 66,265 shares outstanding at March 31, 2012 and December 31, 2011, respectively CommonStockValue $662.00K USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $1.14B USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $1.14B USD Point-in-time
Distributions in excess of net income RetainedEarningsAccumulatedDeficit $-303.81M USD Point-in-time
Distributions in excess of net income RetainedEarningsAccumulatedDeficit $-280.10M USD Point-in-time
Total shareholders' equity StockholdersEquity $837.91M USD Point-in-time
Total shareholders' equity StockholdersEquity $859.04M USD Point-in-time
Noncontrolling interests in subsidiaries MinorityInterest $3.81M USD Point-in-time
Noncontrolling interests in subsidiaries MinorityInterest $3.79M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $841.72M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $862.83M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $2.12B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $2.12B USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Real estate rental revenue RealEstateRevenueNet $76.50M USD 1 Quarter
Real estate rental revenue RealEstateRevenueNet $69.20M USD 1 Quarter
Real estate expenses CostOfRealEstateRevenue $23.25M USD 1 Quarter
Real estate expenses CostOfRealEstateRevenue $26.01M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $25.99M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $21.89M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $3.61M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $3.70M USD 1 Quarter
Total expenses CostsAndExpenses $55.61M USD 1 Quarter
Total expenses CostsAndExpenses $48.85M USD 1 Quarter
Real estate operating income OperatingIncomeLoss $20.89M USD 1 Quarter
Real estate operating income OperatingIncomeLoss $20.36M USD 1 Quarter
Interest expense InterestExpense $15.89M USD 1 Quarter
Interest expense InterestExpense $16.89M USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $306.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $244.00K USD 1 Quarter
Acquisition costs AcquisitionCosts $1.65M USD 1 Quarter
Acquisition costs AcquisitionCosts $54.00K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-18.24M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-15.71M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $2.12M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $5.18M USD 1 Quarter
Income from operations of properties sold or held for sale DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax $2.57M USD 1 Quarter
Income from operations of properties sold or held for sale DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax - USD 1 Quarter
Net income ProfitLoss $4.69M USD 1 Quarter
Net income ProfitLoss $5.18M USD 1 Quarter
Less: Net income attributable to noncontrolling interests in subsidiaries NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Less: Net income attributable to noncontrolling interests in subsidiaries NetIncomeLossAttributableToNoncontrollingInterest $23.00K USD 1 Quarter
Net income attributable to the controlling interests NetIncomeLoss $5.18M USD 1 Quarter
Net income attributable to the controlling interests NetIncomeLoss $4.67M USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.08 USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.03 USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $0.04 USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare - USD 1 Quarter
Net income attributable to the controlling interests per share EarningsPerShareBasic $0.07 USD 1 Quarter
Net income attributable to the controlling interests per share EarningsPerShareBasic $0.08 USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.08 USD 1 Quarter
Continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.03 USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $0.04 USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare - USD 1 Quarter
Net income attributable to the controlling interests per share EarningsPerShareDiluted $0.08 USD 1 Quarter
Net income attributable to the controlling interests per share EarningsPerShareDiluted $0.07 USD 1 Quarter
Weighted average shares outstanding - basic WeightedAverageNumberOfSharesOutstandingBasic 66.19M shares 1 Quarter
Weighted average shares outstanding - basic WeightedAverageNumberOfSharesOutstandingBasic 65.89M shares 1 Quarter
Weighted average shares outstanding - diluted WeightedAverageNumberOfDilutedSharesOutstanding 65.91M shares 1 Quarter
Weighted average shares outstanding - diluted WeightedAverageNumberOfDilutedSharesOutstanding 66.33M shares 1 Quarter
Dividends declared per share CommonStockDividendsPerShareCashPaid $0.43 USD 1 Quarter
Dividends declared per share CommonStockDividendsPerShareCashPaid $0.43 USD 1 Quarter
Cash Flow Statement 56 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $4.69M USD 1 Quarter
Net income ProfitLoss $5.18M USD 1 Quarter
Depreciation and amortization, including amounts in discontinued operations DepreciationDepletionAndAmortization $25.99M USD 1 Quarter
Depreciation and amortization, including amounts in discontinued operations DepreciationDepletionAndAmortization $25.25M USD 1 Quarter
Provision for losses on accounts receivable ProvisionForDoubtfulAccounts $1.10M USD 1 Quarter
Provision for losses on accounts receivable ProvisionForDoubtfulAccounts $1.34M USD 1 Quarter
Real estate impairment ImpairmentOfRealEstate $599.00K USD 1 Quarter
Real estate impairment ImpairmentOfRealEstate - USD 1 Quarter
Amortization of share grants, net ShareBasedCompensation $1.27M USD 1 Quarter
Amortization of share grants, net ShareBasedCompensation $1.43M USD 1 Quarter
Amortization of debt premiums, discounts and related financing costs AmortizationOfFinancingCostsAndDiscounts $968.00K USD 1 Quarter
Amortization of debt premiums, discounts and related financing costs AmortizationOfFinancingCostsAndDiscounts $785.00K USD 1 Quarter
Changes in operating other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $3.95M USD 1 Quarter
Changes in operating other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $10.39M USD 1 Quarter
Changes in operating other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $9.02M USD 1 Quarter
Changes in operating other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $4.84M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $35.56M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $32.56M USD 1 Quarter
Real estate acquisitions, net PaymentsToAcquireRealEstate $126.95M USD 1 Quarter
Real estate acquisitions, net PaymentsToAcquireRealEstate - USD 1 Quarter
Capital improvements to real estate PaymentsForCapitalImprovements $3.69M USD 1 Quarter
Capital improvements to real estate PaymentsForCapitalImprovements $10.46M USD 1 Quarter
Development in progress PaymentsToDevelopRealEstateAssets $780.00K USD 1 Quarter
Development in progress PaymentsToDevelopRealEstateAssets $33.00K USD 1 Quarter
Non-real estate capital improvements PaymentsToAcquireProductiveAssets $210.00K USD 1 Quarter
Non-real estate capital improvements PaymentsToAcquireProductiveAssets $105.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.45M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-130.78M USD 1 Quarter
Line of credit borrowings ProceedsFromLinesOfCredit $78.00M USD 1 Quarter
Line of credit borrowings ProceedsFromLinesOfCredit $20.00M USD 1 Quarter
Line of credit repayments RepaymentsOfLinesOfCredit $10.00M USD 1 Quarter
Line of credit repayments RepaymentsOfLinesOfCredit $18.00M USD 1 Quarter
Dividends paid PaymentsOfDividends $28.90M USD 1 Quarter
Dividends paid PaymentsOfDividends $28.59M USD 1 Quarter
Net contributions from (distributions to) noncontrolling interests PaymentsOfDividendsMinorityInterest $-22.00K USD 1 Quarter
Net contributions from (distributions to) noncontrolling interests PaymentsOfDividendsMinorityInterest $25.00K USD 1 Quarter
Proceeds from dividend reinvestment program ProceedsFromOtherEquity $1.24M USD 1 Quarter
Proceeds from dividend reinvestment program ProceedsFromOtherEquity $1.37M USD 1 Quarter
Principal payments - mortgage notes payable RepaymentsOfSecuredDebt $1.45M USD 1 Quarter
Principal payments - mortgage notes payable RepaymentsOfSecuredDebt $1.00M USD 1 Quarter
Net proceeds from exercise of share options ProceedsFromStockOptionsExercised $180.00K USD 1 Quarter
Net proceeds from exercise of share options ProceedsFromStockOptionsExercised $23.00K USD 1 Quarter
Net cash provided by and (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-19.07M USD 1 Quarter
Net cash provided by and (used in) financing activities NetCashProvidedByUsedInFinancingActivities $31.93M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-66.29M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $5.04M USD 1 Quarter
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $17.81M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $12.48M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $78.77M USD Point-in-time
Cash and cash equivalents at beginning of year CashAndCashEquivalentsAtCarryingValue $12.77M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $17.81M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $12.48M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $78.77M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $12.77M USD Point-in-time
Cash paid for interest, net of amounts capitalized InterestPaidNet $12.21M USD 1 Quarter
Cash paid for interest, net of amounts capitalized InterestPaidNet $12.06M USD 1 Quarter
Stockholders Equity 12 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $841.72M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $862.83M USD Point-in-time
Net income attributable to the controlling interests NetIncomeLoss $5.18M USD 1 Quarter
Net income attributable to the controlling interests NetIncomeLoss $4.67M USD 1 Quarter
Distributions to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $7.00K USD 1 Quarter
Contributions from noncontrolling interest MinorityInterestIncreaseFromStockIssuance $29.00K USD 1 Quarter
Dividends Dividends $28.90M USD 1 Quarter
Shares issued under Dividend Reinvestment Program StockIssuedDuringPeriodValueDividendReinvestmentPlan $1.24M USD 1 Quarter
Share options exercised StockIssuedDuringPeriodValueStockOptionsExercised $23.00K USD 1 Quarter
Share grants, net of share grant amortization and forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $1.32M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $841.72M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $862.83M USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $4.69M USD 1 Quarter
Net income ProfitLoss $5.18M USD 1 Quarter
Change in fair value of interest rate hedge OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease - USD 1 Quarter
Change in fair value of interest rate hedge OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease $-412.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $5.10M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $5.18M USD 1 Quarter
Less: Net income attributable to noncontrolling interests in subsidiaries NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Less: Net income attributable to noncontrolling interests in subsidiaries NetIncomeLossAttributableToNoncontrollingInterest $23.00K USD 1 Quarter
Comprehensive income attributable to the controlling interests ComprehensiveIncomeNetOfTax $5.18M USD 1 Quarter
Comprehensive income attributable to the controlling interests ComprehensiveIncomeNetOfTax $5.08M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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