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Mar 31, 2023
Armada Hoffler Q1 2023 Earnings Report
Reported net income of $0.03 per diluted share and normalized FFO of $0.30 per diluted share, announced a 3% increase in the quarterly cash dividend, and maintained full-year normalized FFO guidance.
Key Takeaways
Armada Hoffler Properties reported first quarter results with a net income of $0.03 per diluted share and normalized FFO of $0.30 per diluted share. The company announced a 3% increase in the quarterly cash dividend and maintained its 2023 full-year Normalized FFO guidance range of $1.23 to $1.27 per diluted share. They also announced a major off-market, mixed-use acquisition of The Interlock in West Midtown, Atlanta.
Net income attributable to common stockholders and OP Unit holders was $2.4 million, or $0.03 per diluted share.
Normalized funds from operations attributable to common stockholders and OP Unit holders was $26.5 million, or $0.30 per diluted share.
Maintained 2023 full-year Normalized FFO guidance of $1.23 to $1.27 per diluted share.
Announced the $215 million acquisition of the Interlock in West Midtown Atlanta.
Forward Guidance
The Company maintained its 2023 full-year Normalized FFO guidance range at the Company's previous guidance range of $1.23 to $1.27 per diluted share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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