Armada Hoffler

May 07, 2025

Armada Hoffler Q1 2025 Earnings Report

Armada Hoffler reported a net loss for the first quarter of 2025, with a decrease in FFO and Normalized FFO compared to the previous year, while maintaining full-year Normalized FFO guidance.

Key Takeaways

Armada Hoffler Properties, Inc. announced a net loss of $(0.07) per diluted share for the first quarter of 2025, a decrease from a net income of $0.17 per diluted share in the same period last year. Funds from operations (FFO) decreased to $0.17 per diluted share from $0.40, and Normalized FFO decreased to $0.25 per diluted share from $0.33. The company maintained its 2025 full-year Normalized FFO guidance range of $1.00 to $1.10 per diluted share.

Net loss attributable to common stockholders and OP Unit holders was $7.2 million, or $(0.07) per diluted share, compared to net income of $14.8 million, or $0.17 per diluted share, for Q1 2024.

Normalized FFO was $25.6 million, or $0.25 per diluted share, a decrease from $29.4 million, or $0.33 per diluted share, for Q1 2024.

Weighted average stabilized portfolio occupancy was 95.7% as of March 31, 2025, with retail at 94.5%, office at 97.5%, and multifamily at 95.0%.

The company executed 31 commercial lease renewals and 11 new commercial leases, totaling approximately 313,000 net rentable square feet.

Stabilized portfolio occupancy