Armada Hoffler Q1 2024 Earnings Report
Key Takeaways
Armada Hoffler Properties reported a strong start to 2024 with a net income of $14.8 million, or $0.17 per diluted share, and Normalized FFO of $29.4 million, or $0.33 per diluted share. The company maintained its full-year Normalized FFO guidance range of $1.21 to $1.27 per diluted share. Robust operating metrics included a 95% portfolio occupancy and positive releasing spreads.
Net income attributable to common stockholders and OP Unit holders was $14.8 million, or $0.17 per diluted share.
Funds from operations (FFO) attributable to common stockholders and OP Unit holders was $35.0 million, or $0.40 per diluted share.
Normalized funds from operations (Normalized FFO) attributable to common stockholders and OP Unit holders was $29.4 million, or $0.33 per diluted share.
Maintained 2024 full-year Normalized FFO guidance range of $1.21 to $1.27 per diluted share.
Armada Hoffler
Armada Hoffler
Armada Hoffler Revenue by Segment
Forward Guidance
The Company maintained its 2024 full-year Normalized FFO guidance range at the Company's previous guidance range of $1.21 to $1.27 per diluted share.
Positive Outlook
- No material capital market activity in FY24
- Asset disposition in 4Q24
- Southern Post delivery schedule updated
- Anticipated realization of a real estate financing investment in FY24
Revenue & Expenses
Visualization of income flow from segment revenue to net income