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Jun 30, 2022
Armada Hoffler Q2 2022 Earnings Report
Armada Hoffler Properties reported second quarter results with net income of $0.31 per diluted share and normalized FFO of $0.30 per diluted share.
Key Takeaways
Armada Hoffler Properties reported increased net income and FFO for the second quarter of 2022, driven by property operating income, gains on dispositions, and improved same-store performance. The company also raised its full-year Normalized FFO guidance and announced a dividend increase.
Net income attributable to common stockholders and OP Unit holders was $27.8 million, or $0.31 per diluted share.
Normalized funds from operations attributable to common stockholders and OP Unit holders was $26.2 million, or $0.30 per diluted share.
The company raised 2022 full-year Normalized FFO guidance to $1.16 to $1.20 per diluted share.
Stabilized operating property portfolio occupancy increased to 97.3% as of June 30, 2022.
Armada Hoffler
Armada Hoffler
Forward Guidance
The Company raised its 2022 full-year Normalized FFO guidance range to $1.16 to $1.20 per diluted share.
Positive Outlook
- Interest expense, net of interest rate caps, based on the Forward Yield Curve ending 2022 at 3.7%
- No capital markets activity for the remainder of the year
- Acquisition of $25 to $35 million of grocery-anchored retail assets
- The Interlock mezzanine loan paid off during the fourth quarter of 2022