Elme Communities (ELME) 2004年年度报告「NYSE」.pdf

1、focusedFor more than 40 years,we have focused on investing in properties in the Greater Washington,D.C.metro-politan region.The fourth-largest metropolitan economy in the United States,the Washington region has ledall metro areas in employment growth over the last 20 years.In this strong,stable regi

2、on,we acquire andmanage a diverse range of income-producing properties.Through our diversified holdings,our goal is to pro-tect our assets from single property-type value fluctuations and to continue to safely increase earnings andshareholder value.Cover photo:600 Jefferson Plaza,Rockville,MDSelecte

3、d Financial and Operating Data(in millions,except fully diluted per share amounts)20002001200220032004For the YearReal Estate Revenue$122$135$142$154$172Net Income4552524546Funds from Operations6474778186Cash Dividends Paid4450545965Average Shares Outstanding3638394042Per Fully Diluted Common ShareN

4、et Income$1.26$1.38$1.32$1.13$1.09Funds from Operations1.791.961.972.042.05Cash Dividends Paid1.231.311.391.471.55At Year EndTotal Assets$633$708$756$928$1,012Total Debt351360403517610Shareholders Equity259324326379366Cash Dividends Paid(in dollars per share)00010203041.231.311.391.471.55Return on I

5、nvested Capital(four quarters through 3Q04)Source:Stifel,Nicolaus&Company,Inc.Net Operating IncomeContribution by Sector7.4%WRITINDUSTRIALOFFICE 43.3%MEDICAL OFFICE9.4%MULTIFAMILY 14.3%INDUSTRIAL 15.3%RETAIL 17.7%100.0%MULTIFAMILYOFFICESHOPPING CENTER6.8%7.4%7.9%10.5%Funds from Operations(in dollars

6、 per share)00010203041.791.961.972.042.05diverse properties in thenations best marketThe Washington,D.C.metropolitan region iswidely regarded as one of the best real estatemarkets in the country.It has the most edu-cated workforce,with 42%of adults havinga college degree and 19%a graduate degree.It