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Dec 31, 2022
Armada Hoffler Q4 2022 Earnings Report
Armada Hoffler reported Q4 2022 results with net income of $0.13 per diluted share and Normalized FFO of $0.35 per diluted share.
Key Takeaways
Armada Hoffler Properties, Inc. announced its Q4 and full year 2022 results. Key highlights include net income attributable to common stockholders of $11.5 million, or $0.13 per diluted share, and Normalized FFO of $30.6 million, or $0.35 per diluted share. The company also introduced 2023 full-year Normalized FFO guidance of $1.23 to $1.27 per diluted share and was awarded an investment grade credit rating of BBB.
Net income attributable to common stockholders and OP Unit holders was $11.5 million, or $0.13 per diluted share.
Funds from operations attributable to common stockholders and OP Unit holders (FFO) was $29.4 million, or $0.33 per diluted share.
Normalized funds from operations attributable to common stockholders and OP Unit holders (Normalized FFO) was $30.6 million, or $0.35 per diluted share.
The company maintained 97% portfolio occupancy as of December 31, 2022.
Revenue by Segment
Forward Guidance
The Company is introducing its 2023 full-year Normalized FFO guidance in the range of $1.23 to $1.27 per diluted share.
Positive Outlook
- Chronicle Mill stabilizes 1Q 2023
- Acquisitions of $100 - $200M of assets
- Existing development pipeline fully funded through the unsecured revolving credit facility
- Delivery of Southern Post 4Q 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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