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10-Q Filing

ELME COMMUNITIES CIK: 104894 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0000104894-17-000047
Period End Date 20170331
Filing Date 20170428
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance wre-20170331.xml
Balance Sheet 79 line items
Line Item Tag Value Unit Period
Rents and other receivables, allowance for doubtful accounts AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $2.43M USD Point-in-time
Rents and other receivables, allowance for doubtful accounts AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $2.38M USD Point-in-time
Land Land $573.32M 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, Par or Stated Value Per Share (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Land Land $573.32M USD Point-in-time
Preferred Stock, Shares Authorized (in shares) PreferredStockSharesAuthorized 10.00M shares Point-in-time
Income producing property RentalProperties $2.12B USD Point-in-time
Income producing property RentalProperties $2.11B USD Point-in-time
Preferred Stock, Shares Authorized (in shares) PreferredStockSharesAuthorized 10.00M shares Point-in-time
Real estate investment property, at cost RealEstateInvestmentPropertyAtCost $2.69B USD Point-in-time
Real estate investment property, at cost RealEstateInvestmentPropertyAtCost $2.70B 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
Accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $680.23M USD Point-in-time
Accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $657.42M USD Point-in-time
Preferred Stock, Shares Outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares 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 $2.03B USD Point-in-time
Net income producing property RealEstateInvestments $2.02B USD Point-in-time
Properties under development or held for future development DevelopmentInProcess $40.23M 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 $42.91M 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 $2.06B USD Point-in-time
Total real estate held for investment, net RealEstateInvestmentPropertyNet $2.07B USD Point-in-time
Shares of beneficial interest, shares issued (in shares) CommonStockSharesIssued 74.61M shares Point-in-time
Shares of beneficial interest, shares issued (in shares) CommonStockSharesIssued 75.70M shares Point-in-time
Shares of beneficial interest, shares outstanding (in shares) CommonStockSharesOutstanding 75.70M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $11.30M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $15.21M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $23.82M USD Point-in-time
Shares of beneficial interest, shares outstanding (in shares) CommonStockSharesOutstanding 74.61M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $23.57M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $6.32M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $1.43M USD Point-in-time
Rents and other receivables, net of allowance for doubtful accounts of $2,430 and $2,377, respectively AccountsAndNotesReceivableNet $64.32M USD Point-in-time
Rents and other receivables, net of allowance for doubtful accounts of $2,430 and $2,377, respectively AccountsAndNotesReceivableNet $69.04M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $103.47M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $108.62M USD Point-in-time
Total assets Assets $2.25B USD Point-in-time
Total assets Assets $2.19B USD Point-in-time
Total assets Assets $2.25B USD Point-in-time
Notes payable, net NotesPayable $843.08M USD Point-in-time
Notes payable, net NotesPayable $893.42M USD Point-in-time
Mortgage notes payable, net SecuredDebt $148.54M USD Point-in-time
Mortgage notes payable, net SecuredDebt $97.81M USD Point-in-time
Lines of credit LineOfCredit $123.00M USD Point-in-time
Lines of credit LineOfCredit $120.00M USD Point-in-time
Accounts payable and other liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $46.97M USD Point-in-time
Accounts payable and other liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $50.68M USD Point-in-time
Dividend payable DividendsPayableCurrentAndNoncurrent $22.41M USD Point-in-time
Dividend payable DividendsPayableCurrentAndNoncurrent - USD Point-in-time
Advance rents AdvanceRent $11.75M USD Point-in-time
Advance rents AdvanceRent $11.95M USD Point-in-time
Tenant security deposits SecurityDepositLiability $8.80M USD Point-in-time
Tenant security deposits SecurityDepositLiability $9.00M USD Point-in-time
Total liabilities Liabilities $1.19B USD Point-in-time
Total liabilities Liabilities $1.20B 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; 75,702 and 74,606 shares issued and outstanding, respectively CommonStockValue $757.00K USD Point-in-time
Shares of beneficial interest, $0.01 par value; 100,000 shares authorized; 75,702 and 74,606 shares issued and outstanding, respectively CommonStockValue $746.00K USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $1.40B USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $1.37B USD Point-in-time
Distributions in excess of net income RetainedEarningsAccumulatedDeficit $-342.02M USD Point-in-time
Distributions in excess of net income RetainedEarningsAccumulatedDeficit $-326.05M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax $8.35M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax $7.61M USD Point-in-time
Total shareholders equity StockholdersEquity $1.07B USD Point-in-time
Total shareholders equity StockholdersEquity $1.05B USD Point-in-time
Noncontrolling interests in subsidiaries MinorityInterest $1.06M USD Point-in-time
Noncontrolling interests in subsidiaries MinorityInterest $1.12M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.07B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.25B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $2.25B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Real estate rental revenue RealEstateRevenueNet $77.14M USD 1 Quarter
Real estate rental revenue RealEstateRevenueNet $77.50M USD 1 Quarter
Real estate expenses CostOfRealEstateRevenue $28.73M USD 1 Quarter
Real estate expenses CostOfRealEstateRevenue $27.86M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $26.07M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $26.04M USD 1 Quarter
Acquisition costs BusinessCombinationAcquisitionRelatedCosts $154.00K USD 1 Quarter
Acquisition costs BusinessCombinationAcquisitionRelatedCosts - USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $5.51M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $5.63M USD 1 Quarter
Operating Expenses OperatingExpenses $59.56M USD 1 Quarter
Operating Expenses OperatingExpenses $60.44M USD 1 Quarter
Real estate operating income OperatingIncomeLoss $16.70M USD 1 Quarter
Real estate operating income OperatingIncomeLoss $17.94M USD 1 Quarter
Interest expense InterestExpense $11.40M USD 1 Quarter
Interest expense InterestExpense $14.36M USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $77.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $39.00K USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-14.32M USD 1 Quarter
Total other income (expense) NonoperatingIncomeExpense $-11.33M USD 1 Quarter
Net income ProfitLoss $6.62M USD 1 Quarter
Net income ProfitLoss $2.38M USD 1 Quarter
Less: Net loss attributable to noncontrolling interests in subsidiaries NetIncomeLossAttributableToNoncontrollingInterest $-5.00K USD 1 Quarter
Less: Net loss attributable to noncontrolling interests in subsidiaries NetIncomeLossAttributableToNoncontrollingInterest $-19.00K USD 1 Quarter
Net income attributable to the controlling interests NetIncomeLoss $2.38M USD 1 Quarter
Net income attributable to the controlling interests NetIncomeLoss $6.63M USD 1 Quarter
Net income per share (in dollars per share) EarningsPerShareBasic $0.03 USD 1 Quarter
Net income per share (in dollars per share) EarningsPerShareBasic $0.09 USD 1 Quarter
Net income per share (in dollars per share) EarningsPerShareDiluted $0.09 USD 1 Quarter
Net income per share (in dollars per share) EarningsPerShareDiluted $0.03 USD 1 Quarter
Weighted average shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 68.30M shares 1 Quarter
Weighted average shares outstanding - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 74.85M shares 1 Quarter
Weighted average shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 68.49M shares 1 Quarter
Weighted average shares outstanding - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 74.97M 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 62 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $6.62M USD 1 Quarter
Net income ProfitLoss $2.38M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $26.07M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $26.04M USD 1 Quarter
Provision for losses on accounts receivable ProvisionForDoubtfulAccounts $183.00K USD 1 Quarter
Provision for losses on accounts receivable ProvisionForDoubtfulAccounts $441.00K USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $1.55M USD 1 Quarter
Share-based compensation expense ShareBasedCompensation $1.15M USD 1 Quarter
Amortization of debt premiums, discounts and related financing costs AmortizationOfFinancingCostsAndDiscounts $477.00K USD 1 Quarter
Amortization of debt premiums, discounts and related financing costs AmortizationOfFinancingCostsAndDiscounts $837.00K USD 1 Quarter
Changes in operating other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $6.92M USD 1 Quarter
Changes in operating other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $906.00K USD 1 Quarter
Changes in operating other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $1.92M USD 1 Quarter
Changes in operating other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $3.47M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $31.04M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $32.25M USD 1 Quarter
Capital improvements to real estate PaymentsForCapitalImprovements $11.44M USD 1 Quarter
Capital improvements to real estate PaymentsForCapitalImprovements $4.72M USD 1 Quarter
Development in progress PaymentsToDevelopRealEstateAssets $2.52M USD 1 Quarter
Development in progress PaymentsToDevelopRealEstateAssets $1.12M USD 1 Quarter
Real estate deposits, net PaymentsForDepositsOnRealEstateAcquisitions $12.50M USD 1 Quarter
Real estate deposits, net PaymentsForDepositsOnRealEstateAcquisitions $5.00M USD 1 Quarter
Cash released from replacement reserve escrows, net IncreaseDecreaseInRestrictedCash $-4.55M USD 1 Quarter
Cash released from replacement reserve escrows, net IncreaseDecreaseInRestrictedCash $-2.31M USD 1 Quarter
Non-real estate capital improvements PaymentsToAcquireProductiveAssets $13.00K USD 1 Quarter
Non-real estate capital improvements PaymentsToAcquireProductiveAssets $575.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-14.98M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-16.04M USD 1 Quarter
Line of credit borrowings, net ProceedsFromRepaymentsOfLinesOfCredit $3.00M USD 1 Quarter
Line of credit borrowings, net ProceedsFromRepaymentsOfLinesOfCredit $110.00M USD 1 Quarter
Dividends paid PaymentsOfDividends $41.14M USD 1 Quarter
Dividends paid PaymentsOfDividends $45.02M USD 1 Quarter
Principal payments mortgage notes payable RepaymentsOfSecuredDebt $84.22M USD 1 Quarter
Principal payments mortgage notes payable RepaymentsOfSecuredDebt $50.35M USD 1 Quarter
Proceeds from term loan ProceedsFromRepaymentsOfOtherLongTermDebt - USD 1 Quarter
Proceeds from term loan ProceedsFromRepaymentsOfOtherLongTermDebt $50.00M USD 1 Quarter
Payment of financing costs PaymentOfFinancingAndStockIssuanceCosts $236.00K USD 1 Quarter
Payment of financing costs PaymentOfFinancingAndStockIssuanceCosts $234.00K USD 1 Quarter
Distributions to noncontrolling interests PaymentsToMinorityShareholders $91.00K USD 1 Quarter
Distributions to noncontrolling interests PaymentsToMinorityShareholders $36.00K USD 1 Quarter
Proceeds from dividend reinvestment program ProceedsFromOtherEquity $1.11M USD 1 Quarter
Proceeds from dividend reinvestment program ProceedsFromOtherEquity - USD 1 Quarter
Net proceeds from equity offering ProceedsFromIssuanceOfCommonStock $29.96M USD 1 Quarter
Net proceeds from equity offering ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Payment of tax withholdings for restricted share awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $779.00K USD 1 Quarter
Payment of tax withholdings for restricted share awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $585.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-12.15M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-16.46M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-250.00K USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $3.91M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $11.30M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $15.21M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $23.82M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $23.57M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $11.30M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $15.21M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $23.82M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $23.57M USD Point-in-time
Cash paid for interest, net of amounts capitalized InterestPaidNet $5.92M USD 1 Quarter
Cash paid for interest, net of amounts capitalized InterestPaidNet $8.64M USD 1 Quarter
Change in accrued capital improvements and development costs IncreaseDecreaseinAccruedCapitalImprovements $-438.00K USD 1 Quarter
Change in accrued capital improvements and development costs IncreaseDecreaseinAccruedCapitalImprovements $-4.21M USD 1 Quarter
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.07B USD Point-in-time
Net income attributable to the controlling interests NetIncomeLoss $2.38M USD 1 Quarter
Net income attributable to the controlling interests NetIncomeLoss $6.63M USD 1 Quarter
Net loss attributable to the noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-5.00K USD 1 Quarter
Net loss attributable to the noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-19.00K USD 1 Quarter
Unrealized gain on interest rate hedge OtherComprehensiveIncomeLossNetOfTax $735.00K USD 1 Quarter
Distributions to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $36.00K USD 1 Quarter
Dividends Dividends $22.61M USD 1 Quarter
Equity offerings, net of issuance costs StockIssuedDuringPeriodValueNewIssues $29.96M USD 1 Quarter
Shares issued under dividend reinvestment program StockIssuedDuringPeriodValueDividendReinvestmentPlan $1.11M USD 1 Quarter
Share grants, net of share grant amortization, forfeitures and tax withholdings StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $395.00K USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.05B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.07B USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $6.62M USD 1 Quarter
Net income ProfitLoss $2.38M USD 1 Quarter
Unrealized gain (loss) on interest rate hedges OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent $735.00K USD 1 Quarter
Unrealized gain (loss) on interest rate hedges OtherComprehensiveIncomeDerivativesQualifyingAsHedgesBeforeTaxPortionAttributableToParent $-3.67M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-1.30M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $7.35M USD 1 Quarter
Less: Comprehensive loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-5.00K USD 1 Quarter
Less: Comprehensive loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-19.00K USD 1 Quarter
Comprehensive income (loss) attributable to the controlling interests ComprehensiveIncomeNetOfTax $-1.29M USD 1 Quarter
Comprehensive income (loss) attributable to the controlling interests ComprehensiveIncomeNetOfTax $7.37M USD 1 Quarter

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

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