Armada Hoffler Properties (AHH) reported $63.27 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 5.5%. EPS of $0.34 for the same period compares to $0.13 a year ago.The reported revenue represents a surprise of +2.23% over the Zacks Consensus Estimate of $61.89 million. With the consensus EPS estimate being $0.31, the EPS surprise was +9.68%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to ...

Armada Hoffler Properties (AHH) came out with quarterly funds from operations (FFO) of $0.34 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to FFO of $0.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 9.68%. A quarter ago, it was expected that this real estate company would post FFO of $0.31 per share when it actually produced FFO of $0.33, delivering a surprise of 6.45%.Over the last four quar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) Commission File Number: 001-35908 ARMADA HOFFLER PROPERTIES, INC. FORM10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or Maryland 46-1214914 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 222 Central Park Avenue , Suite 2100 Virginia Beach ...

Exhibit 99.1 PRESS RELEASE ARMADA HOFFLER REPORTS SECOND QUARTER 2024 RESULTS GAAP Net Income of $0.4 million Normalized FFO of $0.34 Per Diluted Share Office Same Store NOI Growth of 9.0% (GAAP) and 7.7% (Cash); Positive Office Renewal Spreads of 24.3% (GAAP) and 4.4% (Cash) Office Occupancy Increased to 94.3% Positive Renewal Spreads on Retail Leases of 5.8% (GAAP) and 2.9% (Cash) Positive Tradeouts on Multifamily Renewals of 4.3% Maintained 2024 Full-Year Normalized FFO Guidance Range of $1.21 to $1.27 P ...

Core Viewpoint - The current environment presents a favorable opportunity for investing in REITs, with many offering higher-than-usual yields and inflation under control, potentially leading to stable or declining interest rates [1] Group 1: Dividend Safety Importance - Dividend safety is critical for REITs as a cut in dividends can lead to a significant drop in share prices, causing investors to incur losses [2] - Investors should avoid "mousetrap" REITs, which may appear attractive due to high yields but often indicate underlying financial issues [2] Group 2: Dividend Safety Scores - Seeking Alpha Premium provides a Dividend Safety score, where a higher score indicates a lower likelihood of a dividend cut within the next 12 months [3][4] - Companies with a Dividend Safety grade of A+ can afford to pay out more cash income to shareholders, while those in lower grades may be retaining earnings for expansion [4] Group 3: Yield Considerations - With U.S. treasuries yielding approximately 4.25%, REITs need to offer at least a 5.25% yield to be considered attractive to income investors [5] - The average REIT yield is currently below the no-risk rate, making many REITs less appealing unless their stock prices are expected to rise significantly [5] Group 4: REITs in the Danger Zone - As of the latest data, there are 22 equity REITs with yields over 5.25% that have been rated in the Danger Zone for Dividend Safety [6] - The article highlights seven REITs with a Dividend Safety grade of F, indicating a high risk of imminent dividend cuts [6] Group 5: Specific REIT Analysis - Global Net Lease (GNL) has a high yield of over 12% but faces significant financial challenges, including a 65% debt ratio and a projected decline in FFO/share of -38.7% [7][8] - Clipper Realty (CLPR) has a debt ratio of 95% and is expected to see a -40% decline in FFO/share this year, raising concerns about its dividend sustainability [9][10] - Global Medical REIT (GMRE) has maintained its dividend historically but faces a -9.8% decline in FFO this year, putting its dividend at risk [11][12] - Easterly Government Properties (DEA) has a forecasted FFO/share decline of -10.2% and a concerning payout ratio, indicating potential dividend issues [13][14] - Healthcare Realty (HR) has a low interest coverage ratio of 0.20 and is expected to see an -8.3% decline in FFO, raising red flags about its dividend safety [15][16] - Postal Realty Trust (PSTL) has a TTM payout ratio exceeding 800% and is expected to see a -7.3% decline in FFO/share, indicating significant risk [17][18] - Crown Castle (CCI) has a high debt-to-equity ratio of 520% and is projected to see a -14.5% decline in FFO/share, despite a history of dividend growth [19][20] Group 6: Conclusion on Dividend Safety - A grade of F in Dividend Safety suggests a 40% chance of a dividend cut within the next year, prompting investors to reconsider their positions in these REITs [21]

Core Viewpoint - The second-quarter earnings reporting cycle is underway, with a focus on companies likely to beat estimates, which can lead to higher stock price appreciation due to increased investor confidence [1] Group 1: REITs Performance and Market Conditions - Rate-sensitive REITs are currently in focus as the Federal Reserve has maintained steady rates while acknowledging progress on inflation, with potential for a rate cut in September if data supports it [1][2] - Falling interest rates are favorable for REITs due to their reliance on debt and consistent high dividend payouts, making them attractive alternatives to bonds [2] - The U.S. apartment market has seen a surge in demand in Q2, with high absorption rates and stabilized national occupancy and rent growth rates despite ongoing supply challenges [2] Group 2: Sector-Specific Insights - In retail real estate, consumer spending is supported by gains in real income and employment, with the national retail vacancy rate remaining at 5.3%, the lowest in two decades, and positive net absorption in Q2 [3] - The office market shows signs of revival, with net absorption of 2.4 million square feet in Q2, marking the first positive demand since Q3 2022 [3] - Hotel properties are expected to benefit from healthy leisure demand and improvements in group travel and business transient demand, contributing to occupancy and revenue per available room (RevPAR) growth [4] Group 3: Company-Specific Earnings Expectations - Simon Property Group (SPG) has a Zacks Rank of 3 and an Earnings ESP of +0.44%, with an expected revenue of $1.43 billion, indicating a 4.4% year-over-year increase [6][8] - Apple Hospitality REIT has a Zacks Rank of 2 and an Earnings ESP of +12.21%, with a revenue estimate of $388.8 million, reflecting a 7.52% year-over-year increase [8][9] - Armada Hoffler Properties holds a Zacks Rank of 3 and an Earnings ESP of +0.65%, with a revenue estimate of $61.89 million, indicating a 3.2% year-over-year increase [9][10]

Core Viewpoint - Armada Hoffler Properties, Inc. (NYSE: AHH) is a small-cap diversified real estate investment trust (REIT) with a market cap just below $1 billion, primarily focused on office properties, which generate 59% of its total annualized base rent (ABR) [2] - The company has faced challenges since the pandemic, with a significant decline in market cap and a need to cut dividends by nearly half in 2020 to maintain liquidity [3][5] - Despite these challenges, AHH presents an attractive entry point for investors due to its valuation and dividend yield, currently trading at a P/FFO of 9x and offering a dividend yield of 7.4% [5][6] Company Structure and Portfolio - AHH operates a vertically integrated model, providing general construction and development services alongside its real estate operations [2] - The portfolio is heavily weighted towards mixed-use properties, with one-third of retail exposure in mixed-use communities and a significant portion of office and multifamily properties also being mixed-use [6] - The office segment is primarily located in mixed-use communities, which mitigates the risk of obsolescence, supported by a high occupancy rate of approximately 94% and double-digit leasing spreads [6] Financial Performance - AHH has maintained positive growth in adjusted funds from operations (AFFO) over the trailing twelve months (TTM), with no decline in same-store net operating income (NOI) across its property segments [6] - The weighted average lease term remaining is about 6.7 years, providing stability and reducing concentration risk [6] - The company retains roughly 23% of its AFFO each quarter, allowing for gradual optimization of its capital structure [6] Balance Sheet and Debt Management - AHH's net debt to EBITDAre ratio stands at 7.4x, which is considered high compared to the typical REIT range of 4x to 5x, but several factors mitigate this risk [6][7] - The portfolio's average interest rate is 4.4%, with 95% of the debt being fixed, helping to shield AHH from rising financing costs [6] - Favorable debt maturity structures, with minimal debt rollover in 2024 and 2025, further reduce refinancing risk [6] Investment Outlook - AHH is positioned as a solid investment for income-seeking investors, with the potential for price appreciation alongside attractive dividend streams [7] - The concentration in office properties and elevated debt levels are seen as manageable risks due to the mixed-use nature of the properties and effective debt management strategies [7] - The company is expected to perform well even in a high-interest-rate environment, supported by growing same-store figures and retained AFFO to cover increased interest costs [7]

VIRGINIA BEACH, Va., July 09, 2024 (GLOBE NEWSWIRE) -- Armada Hoffler (NYSE: AHH) announces that Stifel Financial Corp. (NYSE: SF), a premier wealth management and investment banking firm, has leased 35,000 square feet of prime office space within the prestigious Wills Wharf building, located within their mixed-use Harbor Point community on the Baltimore waterfront. The Company’s over one million square feet of office space at Harbor Point is 98% leased; representing the continued demand for companies to lo ...

Core Insights - Armada Hoffler announces that Stifel Financial Corp. has leased 35,000 square feet of office space at Wills Wharf, indicating strong demand for mixed-use communities in Baltimore [1] - The leasing decision reinforces Harbor Point's status as a premier destination for innovative companies, enhancing the area's appeal and vitality [2] Company Overview - Armada Hoffler is a self-managed real estate investment trust (REIT) with over 40 years of experience in developing, building, acquiring, and managing high-quality properties primarily in the Mid-Atlantic and Southeastern United States [4] - The company has a diverse portfolio that includes over one million square feet of office space at Harbor Point, which is currently 98% leased [1][3] Development and Partnerships - In addition to Wills Wharf, Armada Hoffler's Harbor Point assets include Constellation and Thames Street Wharf office buildings, as well as residential and retail properties [3] - The company is collaborating with Beatty Development Group to develop mixed-use projects, including Allied | Harbor Point and T. Rowe Price's new global headquarters [3]

VIRGINIA BEACH, Va., July 08, 2024 (GLOBE NEWSWIRE) -- Armada Hoffler (NYSE: AHH) will report its earnings for the quarter ending June 30, 2024 at approximately 4:00 p.m. Eastern on Wednesday, August 7, 2024. At 8:30 a.m. Eastern on Thursday, August 8, 2024, senior management will host a conference call and webcast to discuss earnings and other information. To listen to the call, dial (+1) 800-549-8228 (toll-free dial-in number) or (+1) 646-564-2877 (toll dial-in number). The conference ID is 76550. The con ...