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10-Q Filing

ELME COMMUNITIES CIK: 104894 Q1 2015
Filing Information
Form Type 10-Q
Accession Number 0000104894-15-000059
Period End Date 20150331
Filing Date 20150505
Fiscal Year 2015
Fiscal Period Q1
XBRL Instance wre-20150331.xml
Filing Contents
Balance Sheet 75 line items
Line Item Tag Value Unit Period
Rents and other receivables, allowance for doubtful accounts AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $2.91M USD Point-in-time
Rents and other receivables, allowance for doubtful accounts AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $3.39M USD Point-in-time
Preferred Stock, Par or Stated Value Per Share (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Land Land $543.55M USD Point-in-time
Land Land $543.25M USD Point-in-time
Preferred Stock, Par or Stated Value Per Share (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred Stock, Shares Authorized (in shares) PreferredStockSharesAuthorized 10.00M shares Point-in-time
Income producing property RentalProperties $1.93B USD Point-in-time
Preferred Stock, Shares Authorized (in shares) PreferredStockSharesAuthorized 10.00M shares Point-in-time
Income producing property RentalProperties $1.93B USD Point-in-time
Real estate investment property, at cost RealEstateInvestmentPropertyAtCost $2.48B USD Point-in-time
Preferred Stock, Shares Issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred Stock, Shares Issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Real estate investment property, at cost RealEstateInvestmentPropertyAtCost $2.47B USD Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $640.43M USD Point-in-time
Preferred Stock, Shares Outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $649.28M USD Point-in-time
Preferred Stock, Shares Outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Shares of beneficial interest, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Shares of beneficial interest, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Net income producing property RealEstateInvestments $1.83B USD Point-in-time
Net income producing property RealEstateInvestments $1.83B USD Point-in-time
Shares of beneficial interest, shares authorized (in shares) CommonStockSharesAuthorized 100.00M shares Point-in-time
Properties under development or held for future development DevelopmentInProcess $76.23M USD Point-in-time
Properties under development or held for future development DevelopmentInProcess $65.66M USD Point-in-time
Shares of beneficial interest, shares authorized (in shares) CommonStockSharesAuthorized 100.00M shares 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 $1.89B USD Point-in-time
Shares of beneficial interest, shares issued (in shares) CommonStockSharesIssued 67.82M shares Point-in-time
Shares of beneficial interest, shares issued (in shares) CommonStockSharesIssued 68.13M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $130.34M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $40.02M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $62.08M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $15.83M USD Point-in-time
Shares of beneficial interest, shares outstanding (in shares) CommonStockSharesOutstanding 67.82M shares Point-in-time
Shares of beneficial interest, shares outstanding (in shares) CommonStockSharesOutstanding 68.13M shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $10.30M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $13.10M USD Point-in-time
Rents and other receivables, net of allowance for doubtful accounts of $2,912 and $3,392, respectively AccountsAndNotesReceivableNet $60.22M USD Point-in-time
Rents and other receivables, net of allowance for doubtful accounts of $2,912 and $3,392, respectively AccountsAndNotesReceivableNet $59.74M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $121.08M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $117.37M USD Point-in-time
Total assets Assets $2.08B USD Point-in-time
Total assets Assets $2.11B USD Point-in-time
Total assets Assets $2.12B USD Point-in-time
Notes payable NotesPayable $747.21M USD Point-in-time
Notes payable NotesPayable $747.34M USD Point-in-time
Mortgage notes payable SecuredDebt $419.25M USD Point-in-time
Mortgage notes payable SecuredDebt $418.52M USD Point-in-time
Lines of credit LineOfCredit $30.00M USD Point-in-time
Lines of credit LineOfCredit $50.00M USD Point-in-time
Accounts payable and other liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $65.45M USD Point-in-time
Accounts payable and other liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $54.32M USD Point-in-time
Advance rents AdvanceRent $14.47M USD Point-in-time
Advance rents AdvanceRent $12.53M USD Point-in-time
Tenant security deposits SecurityDepositLiability $8.89M USD Point-in-time
Tenant security deposits SecurityDepositLiability $8.90M USD Point-in-time
Total liabilities Liabilities $1.29B USD Point-in-time
Total liabilities Liabilities $1.29B USD Point-in-time
Preferred shares; $0.01 par value; 10,000 shares authorized; no shares issued or outstanding PreferredStockValue - USD Point-in-time
Preferred shares; $0.01 par value; 10,000 shares authorized; no shares issued or outstanding PreferredStockValue - USD Point-in-time
Shares of beneficial interest; $0.01 par value; 100,000 shares authorized: 68,126 and 67,819 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively CommonStockValue $681.00K USD Point-in-time
Shares of beneficial interest; $0.01 par value; 100,000 shares authorized: 68,126 and 67,819 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively CommonStockValue $678.00K USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $1.18B USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $1.19B USD Point-in-time
Distributions in excess of net income RetainedEarningsAccumulatedDeficit $-365.52M USD Point-in-time
Distributions in excess of net income RetainedEarningsAccumulatedDeficit $-356.53M USD Point-in-time
Total shareholders equity StockholdersEquity $819.55M USD Point-in-time
Total shareholders equity StockholdersEquity $835.27M USD Point-in-time
Noncontrolling interests in subsidiaries MinorityInterest $2.57M USD Point-in-time
Noncontrolling interests in subsidiaries MinorityInterest $2.67M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $837.84M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $822.23M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.12B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.11B USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Real estate rental revenue RealEstateRevenueNet $74.86M USD 1 Quarter
Real estate rental revenue RealEstateRevenueNet $68.61M USD 1 Quarter
Real estate expenses CostOfRealEstateRevenue $29.21M USD 1 Quarter
Real estate expenses CostOfRealEstateRevenue $26.34M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $22.75M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $25.27M USD 1 Quarter
Acquisition costs BusinessCombinationAcquisitionRelatedCosts $3.04M USD 1 Quarter
Acquisition costs BusinessCombinationAcquisitionRelatedCosts $16.00K USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $4.43M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $6.08M USD 1 Quarter
Operating Expenses OperatingExpenses $60.58M USD 1 Quarter
Operating Expenses OperatingExpenses $56.57M USD 1 Quarter
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal DisposalGroupNotDiscontinuedOperationGainLossOnDisposal $30.28M USD 1 Quarter
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal DisposalGroupNotDiscontinuedOperationGainLossOnDisposal - USD 1 Quarter
Real estate operating income OperatingIncomeLoss $44.55M USD 1 Quarter
Real estate operating income OperatingIncomeLoss $12.04M USD 1 Quarter
Interest expense InterestExpense $14.53M USD 1 Quarter
Interest expense InterestExpense $15.35M USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $192.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $223.00K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-14.31M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-15.16M USD 1 Quarter
Income (loss) from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-2.27M USD 1 Quarter
Income (loss) from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $29.40M USD 1 Quarter
Income from operations of properties sold or held for sale DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax - USD 1 Quarter
Income from operations of properties sold or held for sale DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax $546.00K USD 1 Quarter
Gain on sale of real estate DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax - USD 1 Quarter
Gain on sale of real estate DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax $106.27M USD 1 Quarter
Net income ProfitLoss $104.55M USD 1 Quarter
Net income ProfitLoss $29.40M USD 1 Quarter
Net Income (Loss) Attributable to Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net Income (Loss) Attributable to Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest $-108.00K USD 1 Quarter
Net income attributable to the controlling interests NetIncomeLoss $29.51M USD 1 Quarter
Net income attributable to the controlling interests NetIncomeLoss $104.55M USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $-0.04 USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $0.43 USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare - USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $1.60 USD 1 Quarter
Net income per share (in dollars per share) EarningsPerShareBasic $1.56 USD 1 Quarter
Net income per share (in dollars per share) EarningsPerShareBasic $0.43 USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $0.43 USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $-0.04 USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare - USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $1.60 USD 1 Quarter
Net income per share (in dollars per share) EarningsPerShareDiluted $0.43 USD 1 Quarter
Net income per share (in dollars per share) EarningsPerShareDiluted $1.56 USD 1 Quarter
Weighted average shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 68.14M shares 1 Quarter
Weighted average shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 66.70M shares 1 Quarter
Weighted average shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 66.70M shares 1 Quarter
Weighted average shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 68.19M shares 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.30 USD 1 Quarter
Dividends declared per share (in dollars per share) CommonStockDividendsPerShareCashPaid $0.30 USD 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $104.55M USD 1 Quarter
Net income ProfitLoss $29.40M USD 1 Quarter
Depreciation and amortization, including amounts in discontinued operations DepreciationDepletionAndAmortization $25.27M USD 1 Quarter
Depreciation and amortization, including amounts in discontinued operations DepreciationDepletionAndAmortization $22.75M USD 1 Quarter
Provision for losses on accounts receivable ProvisionForDoubtfulAccounts $568.00K USD 1 Quarter
Provision for losses on accounts receivable ProvisionForDoubtfulAccounts $441.00K USD 1 Quarter
Gain on sale of real estate GainsLossesOnSalesOfInvestmentRealEstate $106.27M USD 1 Quarter
Gain on sale of real estate GainsLossesOnSalesOfInvestmentRealEstate $30.28M USD 1 Quarter
Amortization of share grants, net ShareBasedCompensation $1.06M USD 1 Quarter
Amortization of share grants, net ShareBasedCompensation $1.85M USD 1 Quarter
Amortization of debt premiums, discounts and related financing costs AmortizationOfFinancingCostsAndDiscounts $937.00K USD 1 Quarter
Amortization of debt premiums, discounts and related financing costs AmortizationOfFinancingCostsAndDiscounts $872.00K USD 1 Quarter
Changes in operating other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $932.00K USD 1 Quarter
Changes in operating other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $3.15M USD 1 Quarter
Changes in operating other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $9.07M USD 1 Quarter
Changes in operating other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $2.04M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $35.70M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $22.48M USD 1 Quarter
Real estate acquisitions, net PaymentsToAcquireRealEstate - USD 1 Quarter
Real estate acquisitions, net PaymentsToAcquireRealEstate $48.05M USD 1 Quarter
Net cash received for sale of real estate ProceedsFromSaleOfRealEstateHeldforinvestment $37.01M USD 1 Quarter
Net cash received for sale of real estate ProceedsFromSaleOfRealEstateHeldforinvestment $189.39M USD 1 Quarter
Escrow Deposits Related to Property Sales EscrowDepositsRelatedToPropertySales $-96.61M USD 1 Quarter
Escrow Deposits Related to Property Sales EscrowDepositsRelatedToPropertySales - USD 1 Quarter
Capital improvements to real estate PaymentsForCapitalImprovements $10.37M USD 1 Quarter
Capital improvements to real estate PaymentsForCapitalImprovements $4.78M USD 1 Quarter
Development in progress PaymentsToDevelopRealEstateAssets $4.20M USD 1 Quarter
Development in progress PaymentsToDevelopRealEstateAssets $6.39M USD 1 Quarter
Real estate deposits, net PaymentsForDepositsOnRealEstateAcquisitions $2.50M USD 1 Quarter
Real estate deposits, net PaymentsForDepositsOnRealEstateAcquisitions - USD 1 Quarter
Increase (Decrease) in Restricted Cash IncreaseDecreaseInRestrictedCash $996.00K USD 1 Quarter
Increase (Decrease) in Restricted Cash IncreaseDecreaseInRestrictedCash - USD 1 Quarter
Non-real estate capital improvements PaymentsToAcquireProductiveAssets $17.00K USD 1 Quarter
Non-real estate capital improvements PaymentsToAcquireProductiveAssets $1.38M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $27.64M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $23.47M USD 1 Quarter
Line of credit repayments ProceedsFromRepaymentsOfLinesOfCredit $-20.00M USD 1 Quarter
Line of credit repayments ProceedsFromRepaymentsOfLinesOfCredit - USD 1 Quarter
Dividends paid PaymentsOfDividends $20.52M USD 1 Quarter
Dividends paid PaymentsOfDividends $20.09M USD 1 Quarter
Payment of financing costs PaymentOfFinancingAndStockIssuanceCosts $238.00K USD 1 Quarter
Payment of financing costs PaymentOfFinancingAndStockIssuanceCosts $660.00K USD 1 Quarter
Proceeds from Issuance of Common Stock ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Proceeds from Issuance of Common Stock ProceedsFromIssuanceOfCommonStock $5.09M USD 1 Quarter
Principal payments mortgage notes payable RepaymentsOfSecuredDebt $830.00K USD 1 Quarter
Principal payments mortgage notes payable RepaymentsOfSecuredDebt $1.16M USD 1 Quarter
Borrowings under construction loan ProceedsFromConstructionLoansPayable $1.84M USD 1 Quarter
Borrowings under construction loan ProceedsFromConstructionLoansPayable $3.20M USD 1 Quarter
Notes payable repayments RepaymentsOfUnsecuredDebt - USD 1 Quarter
Notes payable repayments RepaymentsOfUnsecuredDebt $100.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-34.98M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-118.38M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-68.26M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $24.20M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $130.34M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $40.02M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $62.08M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $15.83M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $130.34M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $40.02M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $62.08M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $15.83M USD Point-in-time
Cash paid for interest, net of amounts capitalized InterestPaidNet $7.53M USD 1 Quarter
Cash paid for interest, net of amounts capitalized InterestPaidNet $8.97M USD 1 Quarter
Decrease in accrued capital improvements and development costs IncreaseDecreaseinAccruedCapitalImprovements $-4.10M USD 1 Quarter
Decrease in accrued capital improvements and development costs IncreaseDecreaseinAccruedCapitalImprovements $-2.62M USD 1 Quarter
Noncash or Part Noncash Acquisition, Debt Assumed NoncashOrPartNoncashAcquisitionDebtAssumed1 - USD 1 Quarter
Noncash or Part Noncash Acquisition, Debt Assumed NoncashOrPartNoncashAcquisitionDebtAssumed1 $100.86M USD 1 Quarter
Stockholders Equity 11 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $837.84M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $822.23M USD Point-in-time
Net income attributable to the controlling interests NetIncomeLoss $29.51M USD 1 Quarter
Net income attributable to the controlling interests NetIncomeLoss $104.55M USD 1 Quarter
Net Income (Loss) Attributable to Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net Income (Loss) Attributable to Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest $-108.00K USD 1 Quarter
Dividends Dividends $20.52M USD 1 Quarter
Stock Issued During Period, Value, New Issues StockIssuedDuringPeriodValueNewIssues $5.09M USD 1 Quarter
Share grants, net of share grant amortization and forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $1.64M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $837.84M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $822.23M USD Point-in-time

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

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