VIRGINIA BEACH, Va., Jan. 11, 2024 (GLOBE NEWSWIRE) -- Armada Hoffler (NYSE:AHH) will report its earnings for the quarter ending December 31, 2023 at approximately 6:00 a.m. Eastern on Thursday, February 22, 2024. At 8:30 a.m. Eastern on the same day, senior management will host a conference call and webcast to discuss earnings and other information. To listen to the call, dial (+1) 888-259-6580 (toll-free dial-in number) or (+1) 416-764-8624 (toll dial-in number). The conference ID is 54806922. The confere ...

VIRGINIA BEACH, Va., Jan. 04, 2024 (GLOBE NEWSWIRE) -- Armada Hoffler (NYSE:AHH) announces a new office tenant at Town Center of Virginia Beach, its longtime corporate headquarters. The Company completed a new lease with KPMG LLP, the U.S. audit, tax and advisory firm. Beginning January 2024, KPMG will occupy 13,044 square feet, bringing the mixed-use property's office space to 98% leased. "We continue to see demand for core mixed-use communities as top destinations for class A companies. We are thrilled to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35908 ARMADA HOFFLER PROPERTIES, INC. (Exact name of registrant as specified in its charter) Maryland 46-1214914 (State or other jurisd ...

Armada Hoffler Properties, Inc. (NYSE:AHH) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET Company Participants Chelsea Forrest - Director, Corporate Communications, IR & Marketing Louis Haddad - Vice Chairman, President & CEO Shawn Tibbetts - COO Matthew Barnes-Smith - CFO Conference Call Participants Robert Stevenson - Janney Montgomery Scott Peter Abramowitz - Jefferies Wesley Golladay - Robert W. Baird & Co. Operator Good morning, ladies and gentlemen, and welcome to the Armada Hoffler Thir ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35908 ARMADA HOFFLER PROPERTIES, INC. (Exact name of registrant as specified in its charter) Maryland 46-1214914 (State or other jurisdictio ...

Armada Hoffler Properties, Inc. (NYSE:AHH) Q2 2023 Results Conference Call August 3, 2023 8:30 AM ET Company Participants Chelsea Forrest - Director, Corporate Communications & IR Lou Haddad - CEO Matthew Barnes-Smith - CFO Shawn Tibbetts - COO Conference Call Participants Rob Stevenson - Janney Wes Golladay - Baird Peter Abramowitz - Jefferies Chris Sakai - Singular Research Operator Good morning, ladies and gentlemen, and welcome to the Armada Hoffler Second Quarter 2023 Earnings Conference Call. [Operato ...

Armada Hoffler Properties, Inc. (NYSE:AHH) Q1 2023 Earnings Conference Call May 9, 2023 8:30 AM ET Company Participants Chelsea Forrest - Director of Corporate Communications and Investor Relations Louis Haddad - President and Chief Executive Officer Shawn Tibbetts - Chief Operating Officer Matthew Barnes-Smith - Chief Financial Officer Conference Call Participants Robert Stevenson - Janney Montgomery Scott LLC Wesley Golladay - Robert W. Baird & Co. Peter Abramowitz - Jefferies LLC Chris Sakai - Singular R ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35908 ARMADA HOFFLER PROPERTIES, INC. (Exact name of registrant as specified in its charter) Maryland 46-1214914 (State or other jurisdicti ...

PART I [Business](index=7&type=section&id=Item%201.%20Business%2E) Armada Hoffler Properties, Inc. is a full-service REIT focused on developing and managing properties, reporting significant 2022 growth in net income and FFO - The company operates as a full-service real estate firm focusing on office, retail, and multifamily properties, also providing general contracting services[25](index=25&type=chunk) - The company elected REIT taxation status for U.S. federal income tax purposes starting December 31, 2013[26](index=26&type=chunk) FY 2022 Key Financial and Operational Highlights (vs. FY 2021) (in millions) | Metric | FY 2022 | FY 2021 | % Change | | :--- | :--- | :--- | :--- | | **Net Income Attributable to Common Stockholders** | $82.5M | $13.9M | +493.5% | | **Diluted EPS** | $0.93 | $0.17 | +447.1% | | **FFO** | $106.6M | $85.4M | +24.8% | | **Diluted FFO per Share** | $1.21 | $1.05 | +15.2% | | **Normalized FFO** | $107.2M | $87.6M | +22.4% | | **Diluted Normalized FFO per Share** | $1.22 | $1.08 | +13.0% | | **Property Segment NOI** | $146.5M | $123.8M | +18.3% | | **Same Store NOI** | $108.7M | $102.9M | +5.6% | | **Stabilized Portfolio Occupancy (Year-End)** | 97.0% | 96.7% | +0.3 bps | - Key 2022 strategic activities included acquiring the Constellation Energy Building, disposing of **$177 million** in noncore assets, and amending the credit facility to **$550 million**[29](index=29&type=chunk) [Our Properties](index=11&type=section&id=Our%20Properties) As of December 31, 2022, the stabilized portfolio maintained high occupancy across its retail, office, and multifamily segments Stabilized Portfolio Overview as of December 31, 2022 | Property Type | Net Rentable Square Feet / Units | Occupancy | Annualized Base Rent (ABR) / Annualized Quarterly Rent (AQR) | | :--- | :--- | :--- | :--- | | **Retail** | 3,916,001 sq ft | 97.9% | $70,925,783 | | **Office** | 2,111,923 sq ft | 96.7% | $61,140,833 | | **Multifamily** | 2,254 units | 96.1% | $50,125,908 | [Lease Expirations and Tenant Diversification](index=13&type=section&id=Lease%20Expirations%20and%20Tenant%20Diversification) The company maintains a manageable lease expiration profile with diversified tenants, where the top 20 account for 29.1% of ABR/AQR - The office portfolio has **2.9%** of net rentable square feet expiring in 2023 and **6.7%** in 2024[39](index=39&type=chunk) - The retail portfolio has **4.7%** of net rentable square feet expiring in 2023 and **10.7%** in 2024[40](index=40&type=chunk) - The top 20 tenants represent **29.1%** of total ABR/AQR, with Constellation Energy Group as the largest at **8.0%** with a 2036 lease expiration[42](index=42&type=chunk) [Development and Other Investments](index=14&type=section&id=Development%20and%20Other%20Investments) The company's development pipeline includes mixed-use and multifamily projects, alongside significant equity method investments and mezzanine loans - The development pipeline includes Southern Post, a **$119 million** mixed-use project, and Chronicle Mill, a **$60 million** multifamily project **93% leased** by year-end 2022[44](index=44&type=chunk)[46](index=46&type=chunk)[47](index=47&type=chunk) - Significant equity method investments in Baltimore's Harbor Point include **50%** ownership in T. Rowe Price Global HQ and **90%** in Parcel 4 Mixed-Use, with estimated costs of **$264 million** and **$226 million** respectively[48](index=48&type=chunk)[58](index=58&type=chunk)[59](index=59&type=chunk) - A mezzanine loan on The Interlock in Atlanta had an **$86.6 million** balance as of December 31, 2022, generating **$9.9 million** in interest income[49](index=49&type=chunk)[50](index=50&type=chunk) [Acquisitions and Dispositions](index=16&type=section&id=Acquisitions%20and%20Dispositions) In 2022, the company recycled capital through key acquisitions, including the Constellation Energy Building, and dispositions totaling **$259.8 million** - Acquired **79%** membership and **11%** economic interest in the Constellation Energy Building for approximately **$92.2 million** cash and a **$12.8 million** seller loan[60](index=60&type=chunk) - Acquired Pembroke Square, a **124,000 sq ft** grocery-anchored shopping center, for **$26.5 million** in cash[63](index=63&type=chunk) 2022 Property Dispositions | Property | Sales Price (in millions) | | :--- | :--- | | Hoffler Place | $43.1 | | Summit Place | $37.8 | | North Pointe Outparcels | $23.9 | | The Residences at Annapolis Junction | $150.0 | | Sandbridge Commons Outparcels | $3.5 | | Gainesville Apartments - Retail Portion | $1.5 | | **Total** | **$259.8** | [Risk Factors](index=21&type=section&id=Item%201A.%20Risk%20Factors%2E) The company faces business, operational, and industry risks, including economic downturns, geographic concentration, substantial debt, and REIT status maintenance - **Business Risks:** Exposure to adverse economic conditions, development/acquisition challenges, and substantial indebtedness of **$1.1 billion** as of December 31, 2022[90](index=90&type=chunk)[94](index=94&type=chunk)[101](index=101&type=chunk) - **Operational Risks:** Geographic concentration in Virginia (**46% of NOI**), Maryland (**28% of NOI**), and North Carolina (**15% of NOI**) creates susceptibility to regional economic downturns[99](index=99&type=chunk)[146](index=146&type=chunk) - **Real Estate Industry Risks:** Subject to illiquidity of investments, potential environmental liabilities, and ADA compliance costs[155](index=155&type=chunk)[158](index=158&type=chunk)[161](index=161&type=chunk) - **Organizational and REIT Risks:** Failure to maintain REIT qualification, potential conflicts of interest from executive ownership, and limitations on property sales due to tax protection agreements[172](index=172&type=chunk)[188](index=188&type=chunk)[160](index=160&type=chunk) [Unresolved Staff Comments](index=46&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments%2E) The company reports no unresolved staff comments from the SEC - None [Properties](index=46&type=section&id=Item%202.%20Properties%2E) Information regarding the company's properties is incorporated by reference from the detailed descriptions provided in Item 1 of this report - Information for this item is incorporated by reference from "Our Properties" and "Development Pipeline" in Item 1[217](index=217&type=chunk) [Legal Proceedings](index=46&type=section&id=Item%203.%20Legal%20Proceedings%2E) The company is not currently subject to any material litigation outside of routine matters arising in the ordinary course of business - The company is not subject to any material litigation beyond routine matters in the ordinary course of business[218](index=218&type=chunk) [Mine Safety Disclosures](index=46&type=section&id=Item%204.%20Mine%20Safety%20Disclosures%2E) This item is not applicable to the company's operations - Not Applicable[219](index=219&type=chunk) PART II [Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=47&type=section&id=Item%205.%20Market%20For%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities%2E) The company's common and preferred stock trade on the NYSE, with **$0.72** per common share in dividends declared for 2022 - Common Stock trades on the NYSE under the symbol **"AHH"**[222](index=222&type=chunk) - Series A Preferred Stock trades on the NYSE under the symbol **"AHHPrA"**[222](index=222&type=chunk) - Declared cash dividends were **$0.72** per share for the year ended December 31, 2022[225](index=225&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=48&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations%2E) Management attributes significant 2022 revenue and operating income growth to acquisitions, increased occupancy, and general contracting, with strong FFO and liquidity improvements Consolidated Results of Operations (in thousands) | Metric | 2022 | 2021 | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $454,153 | $284,076 | $170,077 | | **Operating Income** | $117,434 | $40,695 | $76,739 | | **Net Income** | $99,953 | $25,455 | $74,498 | | **Net Income Attributable to Common Stockholders** | $82,457 | $13,912 | $68,545 | - Total revenues increased due to a **$27.2 million** rise in rental revenues from the Constellation Office acquisition and a **$142.9 million** increase in general contracting revenues[273](index=273&type=chunk)[274](index=274&type=chunk) - Liquidity is supported by **$48.1 million** cash, **$233.5 million** credit facility availability, and **$205.0 million** ATM Program availability as of December 31, 2022[290](index=290&type=chunk)[293](index=293&type=chunk) FFO and Normalized FFO Reconciliation (in thousands) | Metric | 2022 | 2021 | | :--- | :--- | :--- | | **Net Income Attributable to Common Stockholders** | $82,457 | $13,912 | | **FFO Attributable to Common Stockholders** | $106,645 | $85,350 | | **Normalized FFO Attributable to Common Stockholders** | $107,158 | $87,555 | [Segment Results of Operations](index=51&type=section&id=Segment%20Results%20of%20Operations) In 2022, office and retail segments saw strong NOI growth, while multifamily NOI decreased due to dispositions, and general contracting gross profit doubled Segment Net Operating Income (NOI) / Gross Profit (in thousands) | Segment | 2022 | 2021 | % Change | | :--- | :--- | :--- | :--- | | **Office** | $47,701 | $28,839 | +65.4% | | **Retail** | $63,702 | $57,644 | +10.5% | | **Multifamily** | $35,092 | $37,311 | -5.9% | | **General Contracting (Gross Profit)** | $7,701 | $3,836 | +100.8% | - Office same-store NOI was relatively flat, decreasing slightly by **$73,000**, with overall segment growth driven by acquisitions[257](index=257&type=chunk) - Retail same-store NOI increased by **$3.4 million** (**6.6%**) due to increased occupancy in the same-store portfolio[262](index=262&type=chunk)[264](index=264&type=chunk) - Multifamily same-store NOI increased by **$2.5 million** (**9.9%**) primarily due to higher rental rates across multiple properties[267](index=267&type=chunk)[268](index=268&type=chunk) - Construction backlog significantly increased to **$665.6 million** at year-end 2022 from **$215.5 million** at year-end 2021, driven by new contracts[269](index=269&type=chunk)[270](index=270&type=chunk) [Liquidity and Capital Resources](index=57&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with **$48.1 million** cash and **$233.5 million** credit facility availability, supported by amended credit facilities and equity raises - As of December 31, 2022, the company had **$48.1 million** in unrestricted cash and **$233.5 million** available under its credit facility[290](index=290&type=chunk) - In August 2022, the unsecured credit facility was amended, increasing total capacity to **$550 million** and extending maturities to 2027/2028[295](index=295&type=chunk) - In December 2022, the company entered a new **$100 million** unsecured term loan facility maturing in 2027[304](index=304&type=chunk) Consolidated Indebtedness as of December 31, 2022 (in thousands) | Debt Type | Principal Balance | | :--- | :--- | | Total Secured Debt | $612,132 | | Total Unsecured Debt | $461,000 | | **Total Principal Balances** | **$1,073,132** | [Quantitative and Qualitative Disclosures About Market Risk](index=66&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk%2E) The company's primary market risk is interest rate risk, with **100%** of outstanding debt economically hedged as of December 31, 2022 - The primary market risk exposure is interest rate risk from LIBOR, SOFR, and BSBY[338](index=338&type=chunk) - As of December 31, 2022, **100%** of outstanding debt is economically hedged, with **59.8%** fixed-rate or swapped and **40.2%** variable-rate[339](index=339&type=chunk) - A **100 basis point** interest rate increase would decrease annual cash flow by approximately **$0.6 million**, while a decrease would increase it by **$1.7 million**[339](index=339&type=chunk) [Financial Statements and Supplementary Data](index=66&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data%2E) This section incorporates by reference the company's consolidated financial statements and supplementary data, which begin on page F-1 of the report - Consolidated financial statements and supplementary data are included commencing on page F-1 of the Annual Report[340](index=340&type=chunk) [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=66&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure%2E) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None [Controls and Procedures](index=66&type=section&id=Item%209A.%20Controls%20and%20Procedures%2E) Management concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2022, with no material changes - Management concluded that disclosure controls and procedures were effective as of December 31, 2022[343](index=343&type=chunk) - Management concluded that internal control over financial reporting was effective as of December 31, 2022, based on the COSO 2013 framework[345](index=345&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended December 31, 2022[347](index=347&type=chunk) [Other Information](index=67&type=section&id=Item%209B.%20Other%20Information%2E) The company reports no other information for this item - None PART III [Directors, Executive Officers and Corporate Governance](index=68&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance%2E) The information required for this item will be incorporated by reference from the company's Definitive Proxy Statement for its 2023 Annual Meeting of Stockholders - Information is incorporated by reference from the Company's Proxy Statement for the 2023 Annual Meeting of Stockholders[351](index=351&type=chunk) [Executive Compensation](index=68&type=section&id=Item%2011.%20Executive%20Compensation%2E) The information required for this item will be incorporated by reference from the company's Definitive Proxy Statement for its 2023 Annual Meeting of Stockholders - Information is incorporated by reference from the Company's Proxy Statement for the 2023 Annual Meeting of Stockholders[352](index=352&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=68&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters%2E) The information required for this item will be incorporated by reference from the company's Definitive Proxy Statement for its 2023 Annual Meeting of Stockholders - Information is incorporated by reference from the Company's Proxy Statement for the 2023 Annual Meeting of Stockholders[353](index=353&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=68&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence%2E) The information required for this item will be incorporated by reference from the company's Definitive Proxy Statement for its 2023 Annual Meeting of Stockholders - Information is incorporated by reference from the Company's Proxy Statement for the 2023 Annual Meeting of Stockholders[354](index=354&type=chunk) [Principal Accountant Fees and Services](index=68&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services%2E) The information required for this item will be incorporated by reference from the company's Definitive Proxy Statement for its 2023 Annual Meeting of Stockholders - Information is incorporated by reference from the Company's Proxy Statement for the 2023 Annual Meeting of Stockholders[355](index=355&type=chunk) PART IV [Exhibits and Financial Statement Schedules](index=69&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules%2E) This section lists the financial statements, financial statement schedules, and exhibits filed as part of the Form 10-K report - This section lists the financial statements, Schedule III—Consolidated Real Estate Investments and Accumulated Depreciation, and other exhibits filed with the report[358](index=358&type=chunk)[359](index=359&type=chunk)[360](index=360&type=chunk) [Form 10-K Summary](index=69&type=section&id=Item%2016.%20Form%2010-K%20Summary%2E) No Form 10-K summary is provided - None

Financial Data and Key Metrics Changes - The company reported record earnings for Q4 2022, with normalized FFO per share at $0.35, exceeding previous guidance [9] - For the full fiscal year 2022, FFO was $1.21 per diluted share, outperforming original guidance by 8% [16] - The company achieved a 13% growth in earnings per share compared to 2021 [9] Business Line Data and Key Metrics Changes - Same store NOI for the portfolio increased by 5.6% on a GAAP basis and 6.7% on a cash basis for 2022, with multifamily showing a significant increase of 10.2% on a cash basis [23] - The company anticipates substantial increases in property NOI driven by organic growth, lease-up of recently developed projects, and anticipated acquisitions [10] Market Data and Key Metrics Changes - The company expects all sectors to show positive same-store growth, with multifamily moderating to low single digits and retail outperforming [42] - Office occupancy remains stable at 96.7%, with strong demand allowing for rental rate increases [26] Company Strategy and Development Direction - The company aims for $100 million to $200 million in acquisitions, focusing on off-market opportunities [11] - A significant increase in construction is expected, with over $600 million in third-party contracts planned over the next couple of years [10] - The company is transitioning towards more unsecured long-term fixed-rate debt, reducing reliance on mezzanine financing [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the portfolio's resilience and ability to drive rental rates despite challenges in some real estate sectors [15] - The company is well-positioned for growth, with a focus on operational excellence and execution of high-quality development projects [22] Other Important Information - The company received an investment-grade credit rating from DBRS Morningstar, enhancing access to capital markets [8] - The weighted average cost of debt remains low at 3.6%, with expectations to stay below 4% for 2023 and 2024 [20] Q&A Session Summary Question: Can you provide details on the acquisition pipeline and OP units? - Management identified several off-market opportunities from long-term relationships, including the Interlock as a potential acquisition [38] Question: What is the growth trajectory for 2023? - Management expects positive same-store growth across all sectors, with multifamily moderating to low single digits [42] Question: Can you elaborate on the sources and uses of capital? - The company has multiple sources of equity and plans to utilize OP Units, construction debt, and private placements for acquisitions [68] Question: What are the near-term redevelopment plans? - Management is focused on redevelopment opportunities, particularly for Bed Bath & Beyond and Regal Cinemas locations, while also considering ground-up development [55][56] Question: How will rental expenses trend in 2023? - Rental expenses are expected to increase, but margins on NOI will remain consistent with 2022 levels [75]