Armada Hoffler Properties (AHH) AI Stock Analysis

• Market Cap: $483.32M
• Dividend Yield: 10.36%
• Average Volume (3M): 751.96K
• Price to Earnings (P/E): 45.7
• Beta (1Y): 0.84
• Revenue Growth: -39.94%
• EPS Growth: N/A
• Country: US
• Employees: 148
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): -0.04
• Shares Outstanding: 80,153,390
• 10 Day Avg. Volume: 836,302
• 30 Day Avg. Volume: 751,960
• PEG Ratio: -0.03
• Price to Book (P/B): 1.08
• Price to Sales (P/S): 1.02
• P/FCF Ratio: 6.45
• Enterprise Value/Market Cap: 5.17
• Enterprise Value/Revenue: 5.50
• Enterprise Value/Gross Profit: 11.54
• Enterprise Value/Ebitda: 13.45
• 1Y Price Target: $7.00
• Price Target Upside: 9.03% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: $6.50 ▲(1.25% Upside)

Armada Hoffler Properties faces challenges with high leverage and declining revenue, which weigh on its financial performance. Despite these issues, the company demonstrates operational efficiency and strong cash flow generation. The technical analysis indicates a bearish trend, while the high dividend yield offers some valuation appeal. The earnings call provides a balanced view with strong occupancy but highlights concerns over tenant bankruptcies and leverage.

Armada Hoffler Properties Business Overview & Revenue Model

Company Description

Armada Hoffler Properties (AHH) is a publicly traded real estate investment trust (REIT) that primarily focuses on the development, construction, and management of high-quality properties across various sectors, including multifamily residential, retail, and office spaces. The company operates primarily in the Southeastern and Mid-Atlantic regions of the United States, providing a diverse portfolio of properties that cater to different market needs. AHH is committed to delivering value through strategic investments, innovative design, and a customer-centric approach in its real estate operations.

How the Company Makes Money

Armada Hoffler Properties generates revenue primarily through leasing its developed properties to tenants, which includes residential units in multifamily buildings and commercial spaces in retail and office settings. The company earns rental income from long-term leases, providing a stable cash flow. Additionally, AHH engages in property development and construction services, which can contribute to revenue through project management fees and construction contracts. The company may also benefit from strategic partnerships with local and national retailers and businesses that enhance its property portfolio and drive occupancy rates. Overall, the combination of rental income, development activities, and partnerships contributes to AHH's financial performance.

Armada Hoffler Properties Financial Statement Overview

Summary

Armada Hoffler Properties shows operational efficiency with a solid gross profit margin and positive cash flow growth. However, challenges include declining revenue, high leverage, and a low net profit margin, which impact overall financial stability.

Income Statement

The income statement shows a decline in revenue with a negative growth rate of -16.77% in the TTM period. Despite this, the company maintains a solid gross profit margin of 54.34% and an EBIT margin of 22.67%, indicating operational efficiency. However, the net profit margin is relatively low at 5.88%, suggesting challenges in converting revenue into net income.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 2.02, indicating significant leverage, which could pose financial risks. The return on equity is modest at 3.79%, reflecting limited profitability from shareholders' investments. The equity ratio stands at 32.73%, showing a moderate level of equity financing.

Cash Flow

The cash flow statement highlights a positive free cash flow growth rate of 18.91% in the TTM period, demonstrating improved cash generation. The free cash flow to net income ratio is strong at 1.46, indicating effective cash conversion. However, the operating cash flow to net income ratio is lower at 0.67, suggesting potential challenges in cash flow generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	454.59M	708.47M	667.16M	471.13M	302.53M	383.63M
Gross Profit	216.45M	203.45M	188.58M	171.17M	146.09M	117.07M
EBITDA	185.79M	211.81M	164.23M	213.57M	128.49M	128.27M
Net Income	25.89M	35.65M	8.29M	74.75M	21.89M	29.15M
Balance Sheet
Total Assets	2.58B	2.51B	2.56B	2.24B	1.94B	1.92B
Cash, Cash Equivalents and Short-Term Investments	46.51M	70.64M	27.92M	48.14M	35.25M	41.00M
Total Debt	1.61B	1.42B	1.79B	1.21B	1.01B	1.02B
Total Liabilities	1.73B	1.62B	1.76B	1.34B	1.16B	1.16B
Stockholders Equity	638.84M	670.64M	572.62M	647.45M	555.35M	756.80M
Cash Flow
Free Cash Flow	58.30M	112.02M	93.31M	99.77M	75.69M	91.18M
Operating Cash Flow	58.30M	112.02M	93.31M	116.86M	91.18M	91.18M
Investing Cash Flow	-38.65M	-26.70M	-237.27M	-33.24M	-57.63M	-26.23M
Financing Cash Flow	-15.56M	-43.26M	122.25M	-72.19M	-43.54M	-58.10M

Armada Hoffler Properties Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.42
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AHH, the sentiment is Negative. The current price of 6.42 is above the 20-day moving average (MA) of 6.41, below the 50-day MA of 6.72, and below the 200-day MA of 7.04, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 33.51 is Neutral, neither overbought nor oversold. The STOCH value of 15.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AHH.

Armada Hoffler Properties Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CTO	66 Neutral	$553.24M	―	-5.80%	8.83%	23.84%	-312.04%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
OLP	60 Neutral	$434.81M	15.57	10.91%	8.90%	7.71%	-5.37%
GOOD	59 Neutral	$523.89M	59.40	5.96%	11.35%	4.95%	-6.49%
AHH	56 Neutral	$483.32M	45.71	4.09%	10.36%	-39.94%	―
PKST	56 Neutral	$513.97M	―	-31.72%	5.42%	-16.50%	-640.43%
BRSP	53 Neutral	$705.75M	―	-3.58%	11.76%	-12.57%	70.50%

Armada Hoffler Properties Corporate Events

Armada Hoffler Properties Reports Q3 2025 Earnings

Armada Hoffler Properties, Inc. is a vertically integrated, self-managed real estate investment trust (REIT) specializing in developing, building, acquiring, and managing high-quality retail, office, and multifamily properties primarily in the Mid-Atlantic and Southeastern United States. The company also offers general construction and development services to third-party clients.

Armada Hoffler’s Earnings Call: Mixed Sentiments and Strategic Shifts

The latest earnings call from Armada Hoffler Properties presented a mixed sentiment, balancing steady operational performance with some notable challenges. The company reported strong occupancy and leasing activities, which are positive indicators. However, concerns were raised regarding tenant bankruptcies and high leverage, which could impact future performance.

Armada Hoffler Reports Q3 2025 Financial Results

Armada Hoffler Properties reported a GAAP net loss of $0.04 per diluted share for the third quarter of 2025, with normalized funds from operations (FFO) at $0.29 per diluted share. The company executed 25 commercial lease renewals and 7 new leases, totaling approximately 270,000 square feet, and maintained a high occupancy rate across its portfolio. Despite a decrease in normalized FFO compared to the previous year, the company highlighted its strong property-level income and strategic capital allocation, which positions it for sustainable growth. Additionally, the company completed a note purchase agreement for $115 million in senior unsecured notes to strengthen its financial position.

The most recent analyst rating on (AHH) stock is a Hold with a $7.50 price target. To see the full list of analyst forecasts on Armada Hoffler Properties stock, see the AHH Stock Forecast page.

Armada Hoffler Announces Chairman Transition Plan

On October 16, 2025, Armada Hoffler Properties announced the resignation of Louis S. Haddad as Chairman of the Board, effective January 1, 2026, with Shawn J. Tibbetts, the current CEO and President, appointed as the new Chairman. This appointment is part of a planned succession strategy initiated in 2024, aimed at unifying leadership to enhance efficiency and drive long-term shareholder value. Tibbetts’ leadership experience is expected to support the company’s strategic growth and governance, while Haddad will continue contributing as a board member, ensuring continuity with his institutional knowledge.

The most recent analyst rating on (AHH) stock is a Hold with a $7.50 price target. To see the full list of analyst forecasts on Armada Hoffler Properties stock, see the AHH Stock Forecast page.

Armada Hoffler’s Strong Earnings Call Highlights

The recent earnings call for Armada Hoffler Properties reflected a generally positive sentiment, highlighting strong performances in the office and retail sectors, effective debt management, and encouraging leasing trends in the multifamily segment. Despite these achievements, the company acknowledged challenges in multifamily occupancy, office vacancies due to WeWork, and construction issues at Greenside.

Armada Hoffler Properties Reports Strong Q2 2025 Results

Armada Hoffler Properties, Inc. is a vertically integrated, self-managed real estate investment trust (REIT) focused on developing, building, acquiring, and managing high-quality retail, office, and multifamily properties primarily in the Mid-Atlantic and Southeastern United States.