Elme Communities (ELME) · 10+ Years of Financial Ratios

Profitability	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	1.96	1.78	4.89	1.12	1.82	5.47	4.17	5.37	0.85	1.07	15.2	-0.62	0.76	-1.65	-2.81
Return on Capital (%)	- -	- -	- -	9.48	- -	21.29	17.03	- -	- -	10.01	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	3.35	- -	3.45	3.15	- -	- -	2.3	- -	- -	- -	- -	- -
Gross Margin (%)	66.02	73.48	72.76	72.23	70.73	64.07	63.37	63.29	62.39	63.8	60.72	60.72	60.44	61.11	61.42
EBITDA Margin (%)	62.56	67.65	70.51	67.34	62.49	57.27	56.81	57.05	58.13	59.46	78.68	75.35	57.7	47.61	50.06
Operating Margin (%)	30.88	29.82	27.68	26.55	25.27	24	21.26	22.44	18.15	17.9	-1.19	7.15	1.21	3.8	11.03
Incremental Operating Margin (%)	23.87	36.81	57.17	13.34	-14.56	11.05	-23.34	75.54	58.91	11.81	- -	-1,975.27	153.92	14.72	92.67
Pretax Margin (%)	- -	-0.24	-6.13	3.05	-0.07	1.8	29.15	37.88	-1.3	0.4	-2.41	-22.91	-31.42	-14.74	-23.24
Profit Margin (%)	13.67	14.79	44.68	9.3	14.2	38.68	29.29	38.1	7.02	8.79	217	-8.91	9.69	-14.74	-23.24
Net Income to Common Margin (%)	13.67	14.79	44.68	9.3	14.2	38.68	29.29	38.1	7.02	8.79	217	-8.91	9.69	-14.74	-23.24
Effective Tax Rate (%)	- -	- -	- -	- -	- -	2.26	0.15	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	417.93	-22,888.45	-827.96	1,258.16	-41,504.66	1,595.33	69.4	71.83	-2,529.42	8,244.49	-2,265.72	-245.75	-170.73	-192.31	-121.44
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Debt	1,200	1,234	1,180	1,225	1,141	1,210	1,266	1,112	1,155	1,232	1,100	987	497	552	679
ST Debt	- -	- -	99	- -	- -	50	105	120	166	188	56	42	- -	55	157
LT Debt	1,200	1,234	1,081	1,225	1,141	1,160	1,161	992	989	1,044	1,044	945	497	497	522
Total Debt/EBITDA	6.44	7.2	7.13	7.14	6.94	7.32	7.27	6.22	7.09	7.1	7.91	7.45	5.09	5.54	5.95
Net Debt/EBITDA	6.38	6.74	7.05	7.03	6.15	7.23	7.14	6.16	7.03	7.07	7.82	7.39	2.7	5.46	5.9
Total Debt/EBIT	13.04	16.34	18.16	18.11	17.17	17.47	19.44	15.81	22.71	23.58	-522.22	78.42	243.36	69.37	27.03
Net Debt/EBIT	12.92	15.3	17.96	17.83	15.21	17.24	19.07	15.65	22.52	23.47	-516.08	77.81	128.96	68.31	26.79
EBITDA to Interest Expense	2.52	2.56	2.7	2.83	2.59	2.76	2.92	3.36	3.48	3.43	2.59	3.56	2.87	4	3.75
EBITDA-CapEx/Interest Expense	2.22	0.21	-1.89	2.82	2.58	2.74	2.89	3.35	3.4	3.42	2.58	3.56	2.87	4	3.75
EBIT to Interest Expense	1.24	1.13	1.06	1.12	1.05	1.16	1.09	1.32	1.09	1.03	-0.04	0.34	0.06	0.32	0.83
Interest Expense	74	67	61	61	64	60	60	53	47	51	54	37	34	25	30
Common Equity/Total Assets	-9.67	-12.42	-13.18	-16.64	-20.06	-17.3	-16.3	-14.43	-16.89	-19.37	-6.95	-12.37	-19.28	-24.14	-29.92
Long-Term Debt/Equity (%)	160.26	143.32	125.26	153.89	150.29	141.12	138.74	94.26	90.34	97.68	73.92	71.56	37.73	39.35	45.25
Long-Term Debt/Capital (%)	119.28	127.42	119.54	139.89	152.26	136.8	127.54	125.93	130.64	136.65	113.76	137.07	366.42	494.77	470.06
Long-Term Debt/Total Assets (%)	58.7	56.91	50.96	57.67	57.78	55.04	53	44	41.94	43.18	39.71	39.23	26.49	26.56	27.49
Total Debt/Equity (%)	160.26	143.32	136.73	153.89	150.29	147.2	151.28	105.66	105.49	115.27	77.89	74.74	37.73	43.71	58.85
Total Debt/Capital (%)	119.28	127.42	130.49	139.89	152.26	142.7	139.07	141.17	152.55	161.27	119.86	143.16	366.42	549.48	611.35
Total Debt/Total Assets (%)	58.7	56.91	55.63	57.67	57.78	57.41	57.79	49.33	48.97	50.96	41.84	40.97	26.49	29.5	35.75
Net Debt to Equity	158.77	134.17	135.25	151.49	133.13	145.28	148.43	104.59	104.59	114.71	76.97	74.16	19.99	43.04	58.33
Net Debt/Capital (%)	119.49	129.85	130.92	140.78	163.25	143.51	140.12	141.77	153.25	161.76	120.15	143.65	-268.78	590.41	640.45
EBITDA	187	171	166	172	164	165	174	179	163	173	139	133	98	100	114
EBITDA-CapEx	165	14	-116	171	164	164	172	178	159	172	139	133	98	100	114
Operating Income (Loss)	92	75	65	68	66	69	65	70	51	52	-2	13	2	8	25

Liquidity	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Cash Ratio	0.18	1.24	0.08	0.2	1.95	0.14	0.13	0.06	0.04	0.02	0.08	0.06	4.08	0.08	0.03
Current Ratio	2.77	4.14	1.39	5.98	5.65	1.73	1.14	0.92	1.08	1.41	1.47	6.71	4.35	0.25	0.12
Quick Ratio	0.96	2.1	0.39	0.69	2.68	0.65	0.47	0.38	0.3	0.24	0.48	0.14	4.34	0.23	0.11
CFO/Avg Current Liab	1.44	1.77	1.01	1	1.4	0.91	0.73	0.6	0.56	0.53	0.57	0.75	0.91	0.9	0.52
Common Equity/Total Assets	-9.67	-12.42	-13.18	-16.64	-20.06	-17.3	-16.3	-14.43	-16.89	-19.37	-6.95	-12.37	-19.28	-24.14	-29.92
Long-Term Debt/Equity (%)	160.26	143.32	125.26	153.89	150.29	141.12	138.74	94.26	90.34	97.68	73.92	71.56	37.73	39.35	45.25
Long-Term Debt/Capital (%)	119.28	127.42	119.54	139.89	152.26	136.8	127.54	125.93	130.64	136.65	113.76	137.07	366.42	494.77	470.06
Long-Term Debt/Total Assets (%)	58.7	56.91	50.96	57.67	57.78	55.04	53	44	41.94	43.18	39.71	39.23	26.49	26.56	27.49
Total Debt/Equity (%)	160.26	143.32	136.73	153.89	150.29	147.2	151.28	105.66	105.49	115.27	77.89	74.74	37.73	43.71	58.85
Total Debt/Capital (%)	119.28	127.42	130.49	139.89	152.26	142.7	139.07	141.17	152.55	161.27	119.86	143.16	366.42	549.48	611.35
Total Debt/Total Assets (%)	58.7	56.91	55.63	57.67	57.78	57.41	57.79	49.33	48.97	50.96	41.84	40.97	26.49	29.5	35.75
CFO/Total Liabilities	7.94	8.56	9.35	9.9	9.32	6.46	8.07	9.55	10.33	10.93	10.76	10.38	15.95	12.03	11.35
CFO/CapEx	4.69	0.71	0.42	236.84	699.49	48.35	51.35	124.7	33.79	153.03	266.65	- -	- -	- -	- -
Altman's Z-Score	1.01	1.12	0.94	1.05	0.93	0.94	0.85	1.23	1.13	0.8	1.18	1.32	2.33	1.27	0.67

Working Capital	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Accounts Receivable Turnover	- -	- -	8.82	5.09	5.5	5.32	5	4.93	4.18	4.36	2.74	4.56	12.55	13.33	13.41
Days Sales Outstanding	- -	- -	41.38	71.72	66.37	68.6	73.04	74.11	87.31	83.66	133.43	79.99	29.08	27.38	27.22
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	1.65	1.3	1.25	1.4	1.51	1.96	2.25	2.49	1.94	1.77	1.08	1.2	1.58	2.17	2.4
Accounts Payable Turnover Days	221.34	281.22	291.76	260.92	241.42	186.66	162.09	146.51	187.92	206.56	339.33	304.14	230.87	168.01	152.29
Cash Conversion Cycle	-221.34	-281.22	-250.38	-189.2	-175.05	-118.06	-89.06	-72.4	-100.62	-122.9	-205.9	-224.15	-201.79	-140.63	-125.08
Inventory to Cash Days	- -	- -	41.38	71.72	66.37	68.6	73.04	74.11	87.31	83.66	133.43	79.99	29.08	27.38	27.22
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Market Capitalization	1,707	2,068	1,830	1,741	1,576	1,917	1,875	2,410	2,463	1,842	2,395	1,820	2,220	1,553	1,295
- Cash & Cash Equivalents	11	79	13	19	130	16	24	11	10	6	13	8	234	8	6
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	4	4	4	4	4	3	1	1	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1,200	1,234	1,180	1,225	1,141	1,210	1,266	1,112	1,155	1,232	1,100	987	497	552	679
Enterprise Value	2,900	3,226	3,001	2,951	2,592	3,114	3,118	3,511	3,609	3,068	3,482	2,800	2,484	2,097	1,969
Total Capital	1,006	968	904	876	750	848	910	787	757	764	918	690	136	101	111
Total Debt/Capital (%)	119.28	127.42	130.49	139.89	152.26	142.7	139.07	141.17	152.55	161.27	119.86	143.16	366.42	549.48	611.35
Total Debt / EV	0.41	0.38	0.39	0.42	0.44	0.39	0.41	0.32	0.32	0.4	0.32	0.35	0.2	0.26	0.35
EV/Sales	9.73	12.75	12.78	11.58	9.85	10.79	10.18	11.21	12.88	10.52	19.7	15.91	14.69	10.02	8.64
EV/EBITDA	15.55	18.84	18.13	17.2	15.77	18.84	17.91	19.65	22.15	17.69	25.04	21.11	25.45	21.04	17.26
EV/EBIT	31.5	42.74	46.19	43.62	39	44.94	47.88	49.95	70.94	58.75	- -	222.39	1,216.46	263.36	78.33
EV/Cash Flow to Firm	- -	18.04	16.76	15.36	14.65	22	18.48	20.88	20.47	15.5	18.86	18.63	20.16	21.37	17.11
EV/Free Cash Flow to Firm	- -	9.6	6.51	15.32	14.64	21.73	18.25	20.77	20.03	15.43	18.81	18.63	20.16	21.37	17.11
Diluted Market Cap	1,626	1,951	1,822	1,739	1,577	1,889	1,878	2,337	2,410	1,822	2,341	1,775	2,176	1,550	1,293
Diluted Enterprise Value	2,819	3,109	2,993	2,949	2,593	3,086	3,122	3,438	3,556	3,048	3,428	2,755	2,440	2,095	1,967
EV per Share	48.49	48.98	45.29	44.42	38.95	45.91	45.73	47.06	45.97	38.39	42.41	33.17	28.8	23.96	22.41
TTM Sales	298	253	235	255	263	289	306	313	280	292	177	176	169	209	228
TTM EBITDA	187	171	166	172	164	165	174	179	163	173	139	133	98	100	114
TTM Operating Income	92	75	65	68	66	69	65	70	51	52	-2	13	2	8	25
TTM Cash Flow to Firm	- -	179	179	192	177	142	169	168	176	198	185	150	123	98	115
TTM Free Cash Flow to Firm	- -	336	461	193	177	143	171	169	180	199	185	150	123	98	115

Multiples	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Price/Earnings	39.85	52.12	17.38	73.2	42.23	16.91	20.88	19.53	122.53	71.01	6.1	- -	132.82	- -	- -
Price/Earnings Average	33.46	49.76	19	78.05	47.4	15.33	20.27	17.96	126.09	88.04	5.78	-123.26	124.53	-61.74	-26.49
Price/Earnings High	40.88	56.07	21.45	85.66	53.34	16.89	22.6	20.61	130.14	97.38	6.5	-165.9	138.03	-75.02	-31.9
Price/Earnings Low	21.78	41.66	16.05	68.06	40.31	13.48	18.18	14.73	117.76	70.49	4.76	-90.8	108.57	-46.8	-20.8
Price/Book Value	-8.63	-7.68	-6.55	-4.92	-3.98	-5.25	-5.25	-7.41	-6.18	-3.93	-13.12	-6.11	-6.14	-3.43	-2.28
Price/Book Value Average	-7.25	-7.33	-7.16	-5.25	-4.46	-4.76	-5.09	-6.81	-6.36	-4.88	-12.42	-6.65	-5.76	-4.22	-2.47
Price/Book Value High	-8.85	-8.26	-8.09	-5.76	-5.02	-5.25	-5.68	-7.82	-6.57	-5.39	-13.98	-8.95	-6.38	-5.13	-2.98
Price/Book Value Low	-4.72	-6.14	-6.05	-4.58	-3.8	-4.19	-4.57	-5.59	-5.94	-3.9	-10.23	-4.9	-5.02	-3.2	-1.94
Price/Tangible Book Value	2.28	2.4	2.12	2.19	2.08	2.33	2.24	2.29	2.25	1.72	1.7	1.38	1.69	1.23	1.12
Price/Tangible Book Value Average	1.91	2.29	2.32	2.33	2.33	2.11	2.17	2.11	2.31	2.14	1.61	1.5	1.58	1.51	1.22
Price/Tangible Book Value High	2.34	2.58	2.62	2.56	2.62	2.33	2.42	2.42	2.39	2.36	1.81	2.02	1.75	1.84	1.47
Price/Tangible Book Value Low	1.25	1.92	1.96	2.03	1.98	1.86	1.95	1.73	2.16	1.71	1.32	1.1	1.38	1.14	0.96
Price/Sales	5.45	7.71	7.76	6.81	6	6.54	6.12	7.44	8.6	6.24	13.25	10.09	12.87	7.4	5.67
Price/Sales Average	4.57	7.36	8.49	7.26	6.73	5.93	5.93	6.84	8.85	7.73	12.54	10.98	12.06	9.1	6.16
Price/Sales High	5.59	8.29	9.59	7.97	7.57	6.53	6.62	7.85	9.13	8.56	14.11	14.78	13.37	11.06	7.41
Price/Sales Low	2.98	6.16	7.17	6.33	5.72	5.21	5.32	5.61	8.26	6.19	10.33	8.09	10.52	6.9	4.84
Price/Cash Flow	15.78	17.43	15.49	13.2	13.92	22.71	17.14	20.32	18.45	12.35	17.88	15.71	24.41	21.18	15.27
Price/Cash Flow Average	13.25	16.64	16.94	14.08	15.62	20.59	16.64	18.68	18.98	15.31	16.93	17.11	22.88	26.03	16.57
Price/Cash Flow High	16.19	18.75	19.13	15.45	17.58	22.69	18.55	21.44	19.6	16.94	19.05	23.03	25.37	31.63	19.96
Price/Cash Flow Low	8.63	13.93	14.31	12.28	13.28	18.11	14.92	15.32	17.73	12.26	13.95	12.6	19.95	19.73	13.01
Price/Free Cash Flow	13.02	7.25	4.56	13.17	13.9	22.26	16.85	20.2	17.92	12.28	17.81	15.71	24.41	21.18	15.27
Price/Free Cash Flow Average	10.93	6.92	4.99	14.05	15.6	20.18	16.35	18.58	18.44	15.23	16.87	17.11	22.88	26.03	16.57
Price/Free Cash Flow High	13.36	7.8	5.63	15.42	17.55	22.24	18.23	21.32	19.03	16.84	18.98	23.03	25.37	31.63	19.96
Price/Free Cash Flow Low	7.12	5.79	4.22	12.25	13.27	17.75	14.67	15.24	17.22	12.19	13.9	12.6	19.95	19.73	13.01
EV/Sales	9.73	12.75	12.78	11.58	9.85	10.79	10.18	11.21	12.88	10.52	19.7	15.91	14.69	10.02	8.64
EV/Sales Average	8.81	12.38	13.51	12.03	10.59	10.17	10	10.59	13.13	12.03	18.98	16.82	13.87	11.72	9.12
EV/Sales High	9.88	13.37	14.61	12.74	11.43	10.78	10.68	11.63	13.42	12.86	20.59	20.72	15.2	13.68	10.38
EV/Sales Low	7.13	11.11	12.19	11.1	9.58	9.44	9.38	9.32	12.53	10.47	16.72	13.86	12.29	9.51	7.8
EV/EBITDA	15.55	18.84	18.13	17.2	15.77	18.84	17.91	19.65	22.15	17.69	25.04	21.11	25.45	21.04	17.26
EV/EBITDA Average	14.08	18.3	19.17	17.87	16.94	17.75	17.59	18.56	22.59	20.23	24.13	22.33	24.03	24.61	18.22
EV/EBITDA High	15.79	19.76	20.73	18.92	18.29	18.82	18.8	20.4	23.09	21.63	26.16	27.5	26.34	28.73	20.74
EV/EBITDA Low	11.4	16.42	17.29	16.48	15.33	16.49	16.52	16.33	21.56	17.61	21.25	18.39	21.3	19.97	15.58
EV/EBIT	31.5	42.74	46.19	43.62	39	44.94	47.88	49.95	70.94	58.75	- -	222.39	1,216.46	263.36	78.33
EV/EBIT Average	28.52	41.5	48.82	45.32	41.9	42.35	47.02	47.19	72.35	67.21	-1,593.17	235.19	1,148.57	308.07	82.71
EV/EBIT High	31.98	44.81	52.79	48	45.23	44.91	50.24	51.85	73.95	71.85	-1,727.84	289.63	1,259.13	359.65	94.13
EV/EBIT Low	23.09	37.24	44.03	41.81	37.92	39.33	44.15	41.52	69.06	58.49	-1,403.5	193.76	1,017.92	250.06	70.71
Last Price	28.54	31.39	27.62	26.2	23.69	28.26	27.49	32.3	31.37	23.05	29.17	21.56	25.74	17.74	14.74
High Price	29.28	33.77	34.1	30.66	29.92	28.23	29.75	34.09	33.32	31.61	31.08	31.59	26.75	26.5	19.26
Low Price	15.6	25.09	25.51	24.36	22.61	22.53	23.93	24.36	30.15	22.88	22.76	17.29	21.04	16.53	12.56
Enterprise Value	2,900	3,226	3,001	2,951	2,592	3,114	3,118	3,511	3,609	3,068	3,482	2,800	2,484	2,097	1,969
Enterprise Value Average	2,626	3,133	3,172	3,066	2,784	2,935	3,063	3,317	3,680	3,510	3,355	2,961	2,345	2,453	2,079
Enterprise Value High	2,944	3,383	3,430	3,247	3,006	3,112	3,272	3,645	3,762	3,752	3,639	3,646	2,571	2,864	2,366
Enterprise Value Low	2,126	2,811	2,861	2,829	2,520	2,725	2,876	2,919	3,513	3,054	2,956	2,439	2,079	1,991	1,777

Per Share Data Items	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Shares Outstanding	60	66	66	66	67	68	68	75	79	80	82	84	86	88	88
Diluted Weighted Avg Shares	57	62	66	66	67	67	68	72	77	79	80	82	85	87	88
Basic Weighted Avg Shares	57	62	66	66	67	67	68	72	77	79	80	82	85	87	88
Revenue per Share	5.24	4.07	3.56	3.85	3.95	4.32	4.49	4.34	3.65	3.69	2.2	2.14	2	2.4	2.6
EBITDA per Share	3.28	2.76	2.51	2.59	2.47	2.47	2.55	2.48	2.12	2.2	1.73	1.61	1.15	1.14	1.3
Operating Income per Share	1.62	1.21	0.98	1.02	1	1.04	0.96	0.97	0.66	0.66	-0.03	0.15	0.02	0.09	0.29
Basic EPS, GAAP	0.72	0.6	1.59	0.36	0.56	1.67	1.32	1.65	0.26	0.32	4.78	-0.19	0.19	-0.35	-0.6
Basic EPS from Cont Ops	0.42	-0.01	-0.22	0.12	- -	0.08	1.31	1.65	-0.05	0.01	-0.05	-0.49	-0.63	-0.35	-0.6
Diluted EPS, GAAP	0.72	0.6	1.59	0.36	0.56	1.67	1.31	1.65	0.26	0.32	4.78	-0.19	0.19	-0.35	-0.6
Diluted EPS from Cont Ops	0.42	-0.01	-0.22	0.12	- -	0.08	1.31	1.65	-0.05	0.01	-0.05	-0.49	-0.63	-0.35	-0.6
Dividend per Share	1.76	1.75	1.74	1.48	1.2	1.2	0.9	1.19	1.19	1.2	1.2	1.2	1.07	0.68	0.73
Cash Flow per Share	1.81	1.8	1.78	1.98	1.7	1.24	1.6	1.59	1.7	1.87	1.63	1.37	1.05	0.84	0.97
Free Cash Flow per Basic Share	1.42	-0.73	-2.49	1.98	1.7	1.22	1.57	1.58	1.65	1.85	1.63	1.37	1.05	0.84	0.97
Cash & Equivalents per Share	0.19	1.2	0.19	0.29	1.96	0.23	0.35	0.15	0.13	0.08	0.16	0.09	2.71	0.1	0.07
Book Value per Share	-3.31	-4.09	-4.22	-5.32	-5.96	-5.38	-5.24	-4.36	-5.07	-5.86	-2.22	-3.53	-4.19	-5.17	-6.47
Tangible Book Value per Share	12.52	13.07	13.02	11.98	11.41	12.12	12.27	14.1	13.95	13.37	17.2	15.65	15.27	14.44	13.14

Elme Communities

ELME US

15.42