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Jun 30, 2023
Armada Hoffler Q2 2023 Earnings Report
Armada Hoffler reported second quarter results, with net income of $0.13 per diluted share and normalized FFO of $0.32 per diluted share. The company completed the acquisition of The Interlock and announced a $50 million stock repurchase program. The 2023 full-year normalized FFO guidance was maintained.
Key Takeaways
Armada Hoffler reported a net income of $11.7 million, or $0.13 per diluted share, for the second quarter of 2023. Normalized FFO was $28.3 million, or $0.32 per diluted share. The company completed the acquisition of The Interlock and announced a $50 million stock repurchase program. Full-year normalized FFO guidance was maintained at $1.23 to $1.27 per diluted share.
Net income attributable to common stockholders and OP Unit holders was $11.7 million, or $0.13 per diluted share.
Funds from operations (FFO) attributable to common stockholders and OP Unit holders was $31.4 million, or $0.35 per diluted share.
Normalized funds from operations (Normalized FFO) attributable to common stockholders and OP Unit holders was $28.3 million, or $0.32 per diluted share.
The company maintained its previous guidance range for 2023 full-year Normalized FFO of $1.23 to $1.27 per diluted share.
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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