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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.
Armada Hoffler
Armada Hoffler
Armada Hoffler Revenue by Segment
Revenue by Segment
Rental revenues Revenue
CapyFin.comGeneral contracting & real estate services Revenue
CapyFin.comInterest income Revenue
CapyFin.com Forward Guidance
The company maintained its 2025 full-year Normalized FFO guidance range of $1.00 to $1.10 per diluted share.
Positive Outlook
- Harbor Point T. Rowe Price and Allied delivered in Q1 2025.
- Chandler Residences stabilized in Q2 2025.
Challenges Ahead
- Construction gross profit decline due to lower backlog.