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Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically integrated, self-managed real estate investment trust (REIT) with over four decades of experience in developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties. The company primarily operates in the Mid-Atlantic and Southeastern United States. Founded in 1979 by Daniel A. Hoffler, Armada Hoffler has established itself as a significant player in the real estate industry, known for its diversified portfolio and commitment to excellence.
The company's core business segments include office real estate, retail real estate, multifamily residential real estate, and general contracting and real estate services. Armada Hoffler generates maximum revenue from its general contracting and real estate services segment, providing development and construction services to third-party clients in addition to its own properties.
Armada Hoffler's properties are leased under operating leases, with revenue recognized from base rents and tenant recoveries, where tenants reimburse the company for expenses such as utilities and maintenance. The company's flagship properties, such as the Town Center of Virginia Beach and Wills Wharf in Baltimore, showcase its mixed-use development capabilities, featuring a blend of office, retail, and residential spaces.
Recent achievements include securing new office tenants, such as KPMG LLP and Duane Morris LLP, which have significantly increased the occupancy rates in its flagship developments. The company has also maintained strong financial performance, with a consistent increase in dividends, reflecting its robust leasing activity and strategic capital allocation.
Armada Hoffler is currently engaged in several key projects, including the Southern Post mixed-use development in Roswell, Georgia, and The Interlock in Atlanta, Georgia. These projects exemplify the company's commitment to creating vibrant, mixed-use environments that attract both tenants and consumers.
In 2024, Armada Hoffler completed a leadership transition plan, appointing Shawn Tibbetts as President and announcing the future retirement of CEO Louis Haddad. The company remains committed to its strategic growth plan, focusing on expanding its portfolio while maintaining financial stability and delivering value to its shareholders.
For more information, visit ArmadaHoffler.com or contact Chelsea Forrest, Director of Corporate Communications and Investor Relations, at CForrest@ArmadaHoffler.com or (757) 612-4248.
Armada Hoffler Properties (NYSE: AHH) announced the acquisition of two retail centers: Overlook Village in Asheville, NC for $28.35 million and Greenbrier Square in Chesapeake, VA for $36.5 million. Overlook Village is fully occupied and features high-traffic anchors like T.J.Maxx, while Greenbrier Square boasts a 95.4% occupancy rate and houses the state's most visited Kroger. This strategic investment aims to enhance the company’s portfolio with high-quality, grocery-anchored retail properties, supporting ongoing NOI growth.
Armada Hoffler Properties reported Q2 2021 net income of $5.6 million, or $0.07 per diluted share, down from $11.2 million a year prior. Funds from operations (FFO) rose to $22.9 million, while normalized FFO increased to $23.3 million per diluted share. The company raised its full-year normalized FFO guidance to $1.02-$1.06 due to improved net operating income from acquisitions. Operating property occupancy rates were stable, with retail occupancy rising to 94.7%. The company continues to strengthen its portfolio, recently acquiring two retail centers and maintaining a solid liquidity position.
Armada Hoffler Properties (NYSE: AHH) will announce its earnings for Q2 2021 on August 3, 2021, at 6:00 a.m. Eastern. A conference call will follow at 8:30 a.m. for management to discuss earnings and related information. Interested parties can listen by calling 877-407-3982 (domestic) or 201-493-6780 (international). A replay will be available until September 3, 2021. Armada Hoffler is a real estate investment trust focusing on property development and management in the Mid-Atlantic and Southeastern U.S.
Armada Hoffler Properties (NYSE: AHH) announced that Transamerica will lease 35,000 square feet on the 8th floor of Wills Wharf, increasing the building's lease rate to 58%. Wills Wharf is a 325,000 square foot LEED Silver mixed-use facility located at Baltimore’s Inner Harbor. This addition of Transamerica, alongside companies like T. Rowe Price and EY, reinforces Harbor Point's status as a prime development area. The property boasts waterfront views and is close to amenities. Armada Hoffler, with over four decades of experience, also develops and manages various properties across the Mid-Atlantic and Southeastern U.S.
Armada Hoffler Properties (NYSE: AHH) reported a first-quarter net income of $3.1 million, or $0.04 per diluted share, down from $8.2 million, or $0.11 per diluted share, year-over-year. Funds from operations (FFO) were $20.8 million, or $0.26 per diluted share, compared to $22.3 million, or $0.29 per diluted share, in Q1 2020. The company reaffirmed its full-year Normalized FFO guidance of $0.98 to $1.02 per diluted share. Additionally, a cash dividend increase to $0.16 per common share reflected a 45.5% year-to-date hike. As of March 31, 2021, occupancy rates stood at 94% across their portfolio.
Armada Hoffler Properties, Inc. (NYSE: AHH) announced a cash dividend of $0.16 per common share for Q2 2021, marking a 6.7% increase from the previous quarter and a cumulative increase of 45.5% year-to-date. This dividend will be payable on July 8, 2021 to stockholders of record on June 30, 2021. The Board also declared a cash dividend of $0.421875 per share on its 6.75% Series A Preferred Stock, payable on July 15, 2021. CEO Louis Haddad stated that leasing progress and growth opportunities motivated the dividend increase.
Armada Hoffler Properties (NYSE: AHH) is set to release its earnings report for Q1 2021 on May 4, 2021, at 6:00 a.m. EST. Following the report, management will hold a conference call at 8:30 a.m. EST to discuss the results and other pertinent information. Investors can participate by dialing the provided numbers or via the company's website. The call will also have a replay available until June 4, 2021. Armada Hoffler, established in 1979, operates as a self-managed real estate investment trust focused on the Mid-Atlantic and Southeastern U.S.
Armada Hoffler Properties (NYSE: AHH) announced an amendment to its bylaws to implement a proxy access provision, enhancing corporate governance practices. This allows eligible long-term stockholders, owning at least 3% of outstanding shares for three years, to nominate their director candidates alongside the Board’s nominees. This provision will be available for the first time at the 2022 annual meeting. CEO Louis Haddad emphasized that this initiative aligns with the company’s goal to uphold exemplary governance and provide value to stockholders.
Armada Hoffler Properties reported a net income of $1.9 million ($0.02 per diluted share) for Q4 2020, down from $7.2 million ($0.09) in Q4 2019. Full-year net income was $29.8 million ($0.38 per diluted share), slightly up from $29.6 million ($0.41). The Normalized FFO for Q4 was $19.9 million ($0.25 per diluted share), while the full-year figure was $86.2 million ($1.10). The company increased its first quarter cash dividend by over 36% to $0.15 per share and introduced 2021 Normalized FFO guidance of $0.98 to $1.02 per diluted share.
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