Armada Hoffler Properties ( (AHH) ) has released its Q1 earnings. Here is a breakdown of the information Armada Hoffler Properties presented to its investors.
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Armada Hoffler Properties, Inc. is a vertically integrated, self-managed real estate investment trust (REIT) specializing in the development, acquisition, and management of high-quality retail, office, and multifamily properties primarily in the Mid-Atlantic and Southeastern United States, with additional services in general construction and development for third-party clients.
In its first quarter of 2025, Armada Hoffler Properties reported a GAAP net loss of $0.07 per diluted share, alongside a normalized funds from operations (FFO) of $0.25 per diluted share. Despite the net loss, the company maintained a strong occupancy rate across its portfolio and reported positive leasing spreads in both office and retail segments.
Key financial highlights include a net loss of $7.2 million, a decrease from the previous year’s net income of $14.8 million, and a reduction in FFO to $17.2 million from $35.0 million in the same period last year. The company executed 31 lease renewals and 11 new leases, covering approximately 313,000 square feet, and maintained high occupancy rates with office spaces at 97.5% and retail at 94.5%. The office segment showed a 9.2% increase in same-store net operating income.
Looking ahead, Armada Hoffler Properties continues to project a full-year normalized FFO guidance range of $1.00 to $1.10 per diluted share, reflecting its strategic focus on maintaining robust portfolio performance and operational agility in a dynamic market environment.