Armada Hoffler Q3 2023 Earnings Report
Key Takeaways
Armada Hoffler reported third quarter results, with net income attributable to common stockholders and OP Unit holders decreasing to $5.3 million compared to $33.9 million for the third quarter of 2022. Normalized FFO attributable to common stockholders and OP Unit holders for the third quarter increased to $27.7 million compared to $25.8 million for the third quarter of 2022.
Net income attributable to common stockholders and OP Unit holders of $5.3 million, or $0.06 per diluted share.
Normalized funds from operations attributable to common stockholders and OP Unit holders of $27.7 million, or $0.31 per diluted share.
Maintained a 97% weighted average portfolio occupancy as of September 30, 2023.
Third quarter commercial lease renewal spreads increased 14.5% on a GAAP basis and 4.9% on a cash basis.
Armada Hoffler
Armada Hoffler
Armada Hoffler Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income