Armada Hoffler Properties, Inc.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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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.
Jun 30, 2025 · Filed Aug 7, 2025
AHRT$6.38-1.2%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Comprehensive (Loss) Income
(In thousands, except per share data) (Unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenues | ||||
| Rental revenues | $65,147 | $63,265 | $128,948 | $125,146 |
| General contracting and real estate services revenues | 31,976 | 116,839 | 78,590 | 243,814 |
| Interest income | 4,140 | 4,632 | 8,368 | 9,258 |
| Total revenues | 101,263 | 184,736 | 215,906 | 378,218 |
| Expenses | ||||
| Rental expenses | 16,077 | 15,087 | 31,701 | 29,692 |
| Real estate taxes | 6,590 | 5,886 | 12,527 | 11,811 |
| General contracting and real estate services expenses | 30,592 | 112,500 | 75,842 | 235,398 |
| Depreciation and amortization | 21,752 | 21,183 | 44,968 | 42,013 |
| General and administrative expenses | 5,998 | 4,503 | 13,384 | 10,377 |
| Acquisition, development, and other pursuit costs | 286 | 5,528 | 340 | 5,528 |
| Impairment charges | — | 1,494 | — | 1,494 |
| Total expenses | 81,295 | 166,181 | 178,762 | 336,313 |
| Operating income | 19,968 | 18,555 | 37,144 | 41,905 |
| Interest expense | (21,271) | (21,227) | (39,380) | (39,202) |
| Equity in loss of unconsolidated real estate entities | (322) | — | (2,235) | — |
| Gain on consolidation of real estate entities | 6,915 | — | 6,915 | — |
| Change in fair value of derivatives and other | 648 | 4,398 | (562) | 17,286 |
| Unrealized credit loss release | 209 | 228 | 187 | 145 |
| Other income (expense), net | 3 | 79 | (72) | 158 |
| Income before taxes | 6,150 | 2,033 | 1,997 | 20,292 |
| Income tax benefit | 567 | 1,246 | 377 | 712 |
| Net income | 6,717 | 3,279 | 2,374 | 21,004 |
| Net loss (income) attributable to noncontrolling interests: | ||||
| Investment entities | 77 | (17) | 80 | (51) |
| Operating Partnership | (845) | (90) | 690 | (3,708) |
| Net income attributable to Armada Hoffler Properties, Inc. | 5,949 | 3,172 | 3,144 | 17,245 |
| Preferred stock dividends | (2,887) | (2,887) | (5,774) | (5,774) |
| Net income (loss) attributable to common stockholders | $3,062 | $285 | $(2,630) | $11,471 |
| Net income (loss) attributable to common stockholders per share (basic and diluted) | $0.04 | $— | $(0.03) | $0.17 |
| Weighted-average common shares outstanding (basic and diluted) | 80,154 | 67,106 | 80,073 | 66,972 |
| Comprehensive (loss) income: | ||||
| Net income | $6,717 | $3,279 | $2,374 | $21,004 |
| Unrealized cash flow hedge (losses) gains | (366) | 984 | (1,416) | 4,538 |
| Realized cash flow hedge gains reclassified to net income (loss) | (311) | (1,398) | (624) | (5,040) |
| Comprehensive income | 6,040 | 2,865 | 334 | 20,502 |
| Comprehensive loss (income) attributable to noncontrolling interests: | ||||
| Investment entities | 50 | (17) | 12 | (12) |
| Operating Partnership | (693) | 11 | 1,140 | (3,595) |
| Comprehensive income attributable to Armada Hoffler Properties, Inc. | $5,397 | $2,859 | $1,486 | $16,895 |
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