Armada Hoffler Q4 2024 Earnings Report
Key Takeaways
Armada Hoffler Properties, Inc. reported a net income of $26.1 million for Q4 2024, a significant increase compared to the net loss of $23.9 million in Q4 2023. Normalized FFO per diluted share was $0.27, and the company introduced its 2025 full-year Normalized FFO guidance in the range of $1.00 to $1.10 per diluted share.
Net income attributable to common stockholders and OP Unit holders increased to $26.1 million, or $0.26 per diluted share.
Normalized funds from operations attributable to common stockholders and OP Unit holders was $27.8 million, or $0.27 per diluted share.
Office Same Store NOI increased 12.3% on a GAAP basis.
The company completed the disposition of the Market at Mill Creek and Nexton Square retail properties for gross proceeds of $82.0 million.
Armada Hoffler
Armada Hoffler
Forward Guidance
The Company is introducing its 2025 full-year Normalized FFO guidance in the range of $1.00 to $1.10 per diluted share.
Positive Outlook
- Portfolio NOI is expected to be between $171.2M and $175.8M
- Construction Segment Gross Profit is expected to be between $6.8M and $8.6M
- G&A Expenses are expected to be between ($17.6M) and ($16.6M)
- Interest Income is expected to be between $15.7M and $16.7M
- Adjusted Interest Expense is expected to be between ($63.5M) and ($59.5M)