Armada Hoffler Properties Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
AHRT$6.38-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Comprehensive Income
(In thousands, except per share data)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenues | ||
| Rental revenues | $61,881 | $56,218 |
| General contracting and real estate services revenues | 126,975 | 84,238 |
| Interest income | 4,626 | 3,719 |
| Total revenues | 193,482 | 144,175 |
| Expenses | ||
| Rental expenses | 14,605 | 12,960 |
| Real estate taxes | 5,925 | 5,412 |
| General contracting and real estate services expenses | 122,898 | 81,170 |
| Depreciation and amortization | 20,435 | 18,468 |
| Amortization of right-of-use assets - finance leases | 395 | 277 |
| General and administrative expenses | 5,874 | 5,448 |
| Impairment charges | — | 102 |
| Total expenses | 170,132 | 123,837 |
| Operating income | 23,350 | 20,338 |
| Interest expense | (17,975) | (12,302) |
| Change in fair value of derivatives and other | 12,888 | (2,447) |
| Unrealized credit loss provision | (83) | (77) |
| Other income (expense), net | 79 | 93 |
| Income before taxes | 18,259 | 5,605 |
| Income tax provision | (534) | (188) |
| Net income | 17,725 | 5,417 |
| Net income attributable to noncontrolling interests: | ||
| Investment entities | (34) | (154) |
| Operating Partnership | (3,618) | (554) |
| Net income attributable to Armada Hoffler Properties, Inc. | 14,073 | 4,709 |
| Preferred stock dividends | (2,887) | (2,887) |
| Net income attributable to common stockholders | $11,186 | $1,822 |
| Net income attributable to common stockholders per share (basic and diluted) | $0.17 | $0.03 |
| Weighted-average common shares outstanding (basic and diluted) | 66,838 | 67,787 |
| Comprehensive income: | ||
| Net income | $17,725 | $5,417 |
| Unrealized cash flow hedge gains (losses) | 3,554 | (426) |
| Realized cash flow hedge gains reclassified to net income | (3,642) | (2,922) |
| Comprehensive income | 17,637 | 2,069 |
| Comprehensive income attributable to noncontrolling interests: | ||
| Investment entities | 5 | (118) |
| Operating Partnership | (3,606) | 218 |
| Comprehensive income attributable to Armada Hoffler Properties, Inc. | $14,036 | $2,169 |
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