Announcement • Jul 02
AH REALTY TRUST INC to Report Q2, 2026 Results on Aug 03, 2026 AH REALTY TRUST INC announced that they will report Q2, 2026 results at 4:00 PM, US Eastern Standard Time on Aug 03, 2026 Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Ted Bigman was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 17
Upcoming dividend of US$0.14 per share Eligible shareholders must have bought the stock before 24 June 2026. Payment date: 02 July 2026. Trailing yield: 8.5%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (5.2%). Declared Dividend • May 20
First quarter dividend of US$0.14 announced Shareholders will receive a dividend of US$0.14. Ex-date: 24th June 2026 Payment date: 2nd July 2026 Dividend yield will be 8.9%, which is higher than the industry average of 5.4%. Announcement • May 14
AH Realty Trust Announces Quarterly Cash Dividend for the Second Quarter, Payable on July 2, 2026 AH Realty Trust announced that its Board of Directors declared the company’s regular quarterly cash dividend of $0.14 per common share. The second quarter dividend will be paid in cash on July 2, 2026, to stockholders of record on June 24, 2026. Announcement • May 04
AH REALTY TRUST INC, Annual General Meeting, Jun 17, 2026 AH REALTY TRUST INC, Annual General Meeting, Jun 17, 2026. Announcement • May 02
Ah Realty Trust Announces Changes in Board and Board Committees Ah Realty Trust announced that Dennis Gartman and George Allen will not stand for reelection to the Board at the Company’s 2026 Annual Meeting of Stockholders. Mr. Gartman has served as a director since 2022, and Mr. Allen has served since 2013, including as Chair of the Board’s Nominating and Corporate Governance Committee. As part of the Company’s continued governance refreshment, F. Blair Wimbush has been appointed Chair of the Board’s Nominating and Corporate Governance Committee. Announcement • Apr 03
AH REALTY TRUST INC to Report Q1, 2026 Results on May 04, 2026 AH REALTY TRUST INC announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on May 04, 2026 Announcement • Mar 05
AH Realty Trust Announces Quarterly Dividend, Payable on April 2, 2026 AH Realty Trust, previously Armada Hoffler, announced that its Board of Directors declared the company’s regular quarterly cash dividend of $0.14 per common share. The first quarter dividend will be paid in cash on April 2, 2026, to stockholders of record on March 26, 2026. Announcement • Feb 17
Armada Hoffler Properties, Inc. (NYSE:AHH) acquired Solis Gainesville II for $0.06 million. Armada Hoffler Properties, Inc. (NYSE:AHH) acquired Solis Gainesville II for $0.06 million on December 10, 2025. A cash consideration of $0.06 million will be paid by Armada Hoffler Properties, Inc. As part of consideration, $0.06 million is paid towards assets of Solis Gainesville II.
Armada Hoffler Properties, Inc. (NYSE:AHH) completed the acquisition of Solis Gainesville II on December 10, 2025. Announcement • Jan 16
Armada Hoffler Properties, Inc. to Report Q4, 2025 Results on Feb 16, 2026 Armada Hoffler Properties, Inc. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Feb 16, 2026 Announcement • Nov 22
Armada Hoffler Declares Regular Quarterly Cash Dividend on Common Share, Payable on January 8, 2026 Armada Hoffler announced that its Board of Directors declared the company’s regular quarterly cash dividend of $0.14 per common share. The fourth quarter dividend will be paid in cash on January 8, 2026, to stockholders of record on December 31, 2025. Announcement • Oct 16
Armada Hoffler Announces Board Changes, Effective January 1, 2026 Armada Hoffler announced that its Board of Directors unanimously voted to appoint Shawn J. Tibbetts as Chairman of the Board, effective January 1, 2026. This action completes the last phase of the planned succession changes initiated in 2024. In addition to his new role, Tibbetts will continue leading the Company as President and Chief Executive Officer. A seasoned global executive, Tibbetts brings more than two decades of leadership experience in real estate, large-scale infrastructure, and operations, including leading complex business transformations. Since joining Armada Hoffler in 2019, he has strengthened the performance of the Company’s high-quality assets and driven operational excellence through disciplined execution to deliver long-term shareholder value. As part of this transition, Lou Haddad, current Executive Chairman and former Chief Executive Officer, will step down from his role as Chairman effective January 1, 2026, and will remain a member of the Board of Directors. Haddad’s ongoing involvement as a director ensures access to his extensive institutional knowledge. Announcement • Oct 07
Armada Hoffler Properties, Inc. to Report Q3, 2025 Results on Nov 03, 2025 Armada Hoffler Properties, Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 03, 2025 Announcement • Sep 13
Armada Hoffler Properties, Inc. Announces Quarterly Cash Dividend, Payable on October 2, 2025 Armada Hoffler announced that its Board of Directors declared the company’s regular quarterly cash dividend of $0.14 per common share. The third quarter dividend will be paid in cash on October 2, 2025, to stockholders of record on September 24, 2025. Announcement • Jun 25
Armada Hoffler Properties, Inc. to Report Q2, 2025 Results on Aug 04, 2025 Armada Hoffler Properties, Inc. announced that they will report Q2, 2025 results at 4:00 PM, US Eastern Standard Time on Aug 04, 2025 Announcement • Jun 19
Armada Hoffler Properties, Inc. Announces Quarterly Cash Dividend, Payable on July 8, 2025 Armada Hoffler Properties, Inc. announced that its Board of Directors declared the company’s regular quarterly cash dividend of $0.14 per common share. The second dividend will be paid in cash on July 8, 2025, to stockholders of record on June 30, 2025. Announcement • Jun 06
Armada Hoffler Properties, Inc. Announces Resignation of Eric E. Apperson as President of Construction, Effective May 31, 2025 On May 23, 2025 (the Resignation Date"), Eric E. Apperson, the former President of Construction of Armada Hoffler Properties, Inc. (the Company"), resigned from his position as President of Construction of the Company. On May 23, 2025, Mr. Apperson and the Company entered into a Separation and General Release Agreement (the Separation Agreement") that became effective on May 31, 2025. Announcement • Apr 28
Armada Hoffler Properties, Inc., Annual General Meeting, Jun 18, 2025 Armada Hoffler Properties, Inc., Annual General Meeting, Jun 18, 2025. Announcement • Apr 10
Armada Hoffler Properties, Inc. to Report Q1, 2025 Results on May 07, 2025 Armada Hoffler Properties, Inc. announced that they will report Q1, 2025 results at 4:00 PM, Eastern Standard Time on May 07, 2025 Announcement • Mar 13
Armada Hoffler Declares Regular Quarterly Cash Dividend on Common Share, Payable on April 3, 2025 Armada Hoffler announced that its Board of Directors declared the company’s regular quarterly cash dividend of $0.14 per common share. The first quarter dividend will be paid in cash on April 3, 2025, to stockholders of record on March 26, 2025. Announcement • Mar 04
Armada Hoffler Properties, Inc. Appoints Jennifer Boykin to Board of Directors Armada Hoffler Properties, Inc. announced that Jennifer Boykin has been appointed to the Company’s Board of Directors. Boykin’s transformational leadership has spanned decades, serving as the Executive Vice President of Huntington Ingalls Industries, Inc. and President of Newport News Shipbuilding (HII-NNS), the largest business division within the company. Under her leadership, Newport News Shipbuilding underwent a significant digital shipbuilding transformation with the adoption of digital shipbuilding tools replacing traditional drawings. She also led the first 2-ship aircraft carrier contract in 30 years. Over the course of her career, Boykin has driven enhanced business performance through leadership development and continuous improvement. She was the construction manager during the building of USS John C. Stennis and USS Harry S. Truman aircraft carriers. She led the companies Facilities and Waterfront Support division and served as Vice President of Engineering and Vice President of Quality Assurance and Process Excellence before taking the helm in 2017. A recognized advocate for STEM education and workforce development, Boykin has served on several influential boards, including the Virginia Business Council, the Commonwealth of Virginia’s Growth and Opportunity Board, and the Women’s Initiative Network Board at Old Dominion University. Boykin holds a B.S. in marine engineering from the U.S. Merchant Marine Academy at Kings Point, NY, where she was appointed by the President of the United States to serve on the Board of Visitors in 2019. She also earned an M.S. in engineering management from The George Washington University School of Engineering. Boykin has received numerous accolades, including the 2021 Kings Pointer of the Year and the 2023 Jack Flannigan Award from the Marine Machinery Association. Announcement • Jan 22
Armada Hoffler Properties, Inc. to Report Q4, 2024 Results on Feb 19, 2025 Armada Hoffler Properties, Inc. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 19, 2025 Announcement • Jan 07
An undisclosed buyer acquired Two Retail Real Estate Assets in South Carolina from Armada Hoffler Properties, Inc. (NYSE:AHH) for $82 million. An undisclosed buyer acquired Two Retail Real Estate Assets in South Carolina from Armada Hoffler Properties, Inc. (NYSE:AHH) for $82 million on December 18, 2024.
An undisclosed buyer completed the acquisition of Two Retail Real Estate Assets in South Carolina from Armada Hoffler Properties, Inc. (NYSE:AHH) on December 18, 2024. Announcement • Dec 14
Armada Hoffler Announces Cash Dividend for the Fourth Quarter, Payable on January 2, 2025 Armada Hoffler announced that its Board of Directors declared the cash dividend of $0.205 per common share. The fourth quarter dividend will be paid in cash on January 2, 2025, to stockholders of record on December 26, 2024. Announcement • Nov 19
Armada Hoffler Properties, Inc. Announces Chief Executive Officer Changes Armada Hoffler Properties, Inc.'s Board of Directors announced that Shawn Tibbetts, the Company's President and Chief Operating Officer, has been named Chief Executive Officer beginning January 1, 2025. Current CEO Lou Haddad will retire at the end of 2024 but will retain the role of Executive Chairman of the Company's Board of Directors. Tibbetts, who has served as the Company's Chief Operating Officer since 2019 and was elevated to President earlier this year as part of a deliberate and thorough succession planning process conducted over the last several years and published early this year, has been a key driver of Armada Hoffler's operational excellence and strategic growth. With over 20 years of experience in corporate leadership, Tibbetts brings a deep understanding of the company's operations, culture, and long-term vision. Since joining Armada Hoffler, Tibbetts has successfully led the team to historic performance coming out of the pandemic, growing the Company's portfolio NOI by 45%, and overseeing the successful execution of over $1.2 billion of transactions. Tibbetts previously served as The Port of Virginia's President and Chief Operations Officer. A native of Portsmouth, Tibbetts earned his undergraduate degree from James Madison University, his MBA from the College of William & Mary, and completed the Advanced Management Program at Harvard Business School. During Haddad's 25-year tenure as CEO, Armada Hoffler achieved significant milestones, including the Company's initial public offering and transition into a publicly-traded REIT listed on the New York Stock Exchange, completing the multi-million-dollar public-private partnership development at Town Center of Virginia Beach, and growing the Company's portfolio to span over eight states with an enterprise value of $2.6 billion. Under Haddad's guidance, the Company has strengthened its market position and fostered a culture of excellence. Reported Earnings • Nov 06
Third quarter 2024 earnings released: FFO per share: US$0.2 (vs US$0.41 in 3Q 2023) Third quarter 2024 results: FFO per share: US$0.2 (down from US$0.41 in 3Q 2023). Revenue: US$187.7m (up 13% from 3Q 2023). Funds from operations (FFO): US$12.7m (down 54% from 3Q 2023). FFO margin: 6.7% (down from 17% in 3Q 2023). Revenue is expected to decline by 51% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to grow by 4.8%. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. New Risk • Oct 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (13% increase in shares outstanding). Announcement • Sep 30
Armada Hoffler Properties, Inc. to Report Q3, 2024 Results on Nov 05, 2024 Armada Hoffler Properties, Inc. announced that they will report Q3, 2024 results at 4:00 PM, US Eastern Standard Time on Nov 05, 2024 New Risk • Sep 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (13% increase in shares outstanding). Announcement • Sep 27
Armada Hoffler Properties, Inc. has completed a Follow-on Equity Offering in the amount of $94.5 million. Armada Hoffler Properties, Inc. has completed a Follow-on Equity Offering in the amount of $94.5 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 9,000,000
Price\Range: $10.5
Discount Per Security: $0.4725
Security Features: Income Trust Announcement • Sep 26
Armada Hoffler Properties, Inc. has filed a Follow-on Equity Offering. Armada Hoffler Properties, Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 7,000,000 Declared Dividend • Sep 16
Second quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 25th September 2024 Payment date: 3rd October 2024 Dividend yield will be 7.3%, which is higher than the industry average of 5.4%. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: US$0.004 (vs US$0.13 in 2Q 2023) Second quarter 2024 results: EPS: US$0.004 (down from US$0.13 in 2Q 2023). Revenue: US$184.7m (up 11% from 2Q 2023). Net income: US$375.0k (down 96% from 2Q 2023). Profit margin: 0.2% (down from 5.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 24% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to grow by 3.3%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Jul 09
Armada Hoffler Properties, Inc. to Report Q2, 2024 Results on Aug 07, 2024 Armada Hoffler Properties, Inc. announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 07, 2024 Upcoming Dividend • Jun 19
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 26 June 2024. Payment date: 05 July 2024. Trailing yield: 7.5%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (6.3%). Declared Dividend • Jun 16
First quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 26th June 2024 Payment date: 5th July 2024 Dividend yield will be 7.6%, which is higher than the industry average of 5.4%. Announcement • Jun 15
Armada Hoffler Declares Second Quarter Cash Dividend on Common Shares, Payable on July 5, 2024 Armada Hoffler announced that its Board of Directors declared the cash dividend of $0.205 per common share. The second quarter dividend will be paid in cash on July 5, 2024, to stockholders of record on June 26, 2024. Buy Or Sell Opportunity • May 30
Now 21% undervalued Over the last 90 days, the stock has risen 7.0% to €10.00. The fair value is estimated to be €12.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 5.3%. Revenue is forecast to decline by 65% in 2 years. Earnings are forecast to grow by 268% in the next 2 years. Recent Insider Transactions • May 21
President of Construction recently sold €426k worth of stock On the 16th of May, Eric Apperson sold around 40k shares on-market at roughly €10.66 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €318k more than they bought in the last 12 months. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: US$0.22 (vs US$0.027 in 1Q 2023) First quarter 2024 results: EPS: US$0.22 (up from US$0.027 in 1Q 2023). Revenue: US$193.5m (up 34% from 1Q 2023). Net income: US$14.8m (up US$13.0m from 1Q 2023). Profit margin: 7.7% (up from 1.3% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 62% p.a. on average during the next 2 years, while revenues in the REITs industry in Europe are expected to grow by 7.1%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 21
Armada Hoffler Properties, Inc., Annual General Meeting, Jun 12, 2024 Armada Hoffler Properties, Inc., Annual General Meeting, Jun 12, 2024, at 10:00 US Eastern Standard Time. Agenda: To consider directorate reelections; To ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for our fiscal year ending December 31, 2024; and to consider other matters. Announcement • Mar 29
Armada Hoffler Properties, Inc. to Report Q1, 2024 Results on May 09, 2024 Armada Hoffler Properties, Inc. announced that they will report Q1, 2024 results at 6:00 AM, US Eastern Standard Time on May 09, 2024 Announcement • Mar 27
Armada Hoffler Announces Appointment of F. Blair Wimbush to the Board of Directors Armada Hoffler announced that F. Blair Wimbush has been appointed to the company’s Board of Directors, effective immediately. A veteran of the transportation industry, Wimbush dedicated 35 years to Norfolk Southern Corporation. He carved his path from legal positions to senior leadership, culminating in his role as Chief Real Estate and Corporate Sustainability Officer from 2007 to 2015. Wimbush lends his expertise to boards such as Atlantic Union Bankshares Corporation, LifeNet Health, Inc., Virginia Environmental Endowment and the University of Virginia Law School Foundation, where he previously served as Chairman. His extensive public service contributions include a tenure as Commissioner and Vice Chairman of the Virginia Port Authority and as Vice Chairman of Children’s Hospital of the King’s Daughters. Wimbush received a B.A. in political science from the University of Rochester, and a J.D. from the University of Virginia School of Law. He attended the Norfolk Southern Management Development Program, Duke University Fuqua School of Business and completed the Advanced Management Program at the Harvard Business School. Upcoming Dividend • Mar 19
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 26 March 2024. Payment date: 04 April 2024. Trailing yield: 7.9%. Within top quartile of German dividend payers (5.0%). Higher than average of industry peers (6.4%). New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 56% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Earnings are forecast to decline by an average of 56% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Mar 05
Armada Hoffler Announces John W. to Retire from Board of Directors Armada Hoffler announced that John W. Snow, 84, will retire as a member of the Company’s Board of Directors effective as of the date of Armada Hoffler’s 2024 Annual Meeting of Stockholders. Armada Hoffler’s Board of Directors recently approved an amendment to Armada Hoffler’s Corporate Governance Guidelines pursuant to which directors will no longer stand for re-election after they reach the age of 80. Serving as a director since Armada Hoffler’s initial public offering and as lead independent director from 2013-2019, Snow has been an integral part of the company’s growth. As U.S. Treasury Secretary under President George W. Bush, Snow steered the 2003 Jobs and Growth Tax Relief Act, shaping domestic and global economic policy. He was also Chairman and Chief Executive Officer of CSX Corporation and served as a Chairman of the Business Roundtable and on the Business Councils executive committee, a prestigious business policy group comprised of 250 chief executive officers of the nation’s largest companies. Snow holds a B.A. from the University of Toledo, a master’s degree from Johns Hopkins University, a law degree from George Washington University and a PhD in Economics from the University of Virginia. New Risk • Feb 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 15% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Earnings are forecast to decline by an average of 15% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • Feb 26
Fourth quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 26th March 2024 Payment date: 4th April 2024 Dividend yield will be 7.5%, which is higher than the industry average of 5.4%. Reported Earnings • Feb 23
Full year 2023 earnings released: FFO per share: US$1.0 (vs US$1.58 in FY 2022) Full year 2023 results: FFO per share: US$1.0 (down from US$1.58 in FY 2022). Revenue: US$667.2m (up 47% from FY 2022). Funds from operations (FFO): US$90.7m (down 15% from FY 2022). FFO margin: 14% (down from 24% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 33% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Feb 20
Armada Hoffler Announces Quarterly Cash Dividend , Payable on April 4, 2024 Armada Hoffler announced that its Board of Directors declared the cash dividend of $0.205 per common share, representing a 5% increase over the prior quarter’s dividend. The first quarter dividend will be paid in cash on April 4, 2024, to stockholders of record on March 27, 2024. Announcement • Jan 12
Armada Hoffler Properties, Inc. to Report Q4, 2023 Results on Feb 22, 2024 Armada Hoffler Properties, Inc. announced that they will report Q4, 2023 results on Feb 22, 2024 Upcoming Dividend • Dec 19
Upcoming dividend of US$0.20 per share at 6.1% yield Eligible shareholders must have bought the stock before 26 December 2023. Payment date: 04 January 2024. Trailing yield: 6.1%. Within top quartile of German dividend payers (5.1%). In line with average of industry peers (5.6%). Announcement • Dec 14
Armada Hoffler Properties, Inc. Declares the Cash Dividend for the Fourth Quarter of 2023, Payable on January 4, 2024 Armada Hoffler Properties, Inc. announced that its Board of Directors declared the cash dividend of $0.195 per common share for the fourth quarter of 2023. The fourth quarterdividend will be paid in cash on January 4, 2024, to stockholders of record on December 27, 2023. New Risk • Nov 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (3.8% net profit margin). Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: US$0.06 (vs US$0.38 in 3Q 2022) Third quarter 2023 results: EPS: US$0.06 (down from US$0.38 in 3Q 2022). Revenue: US$162.3m (up 32% from 3Q 2022). Net income: US$5.34m (down 79% from 3Q 2022). Profit margin: 3.3% (down from 21% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 38% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Sep 29
Armada Hoffler Properties, Inc. to Report Q3, 2023 Results on Nov 02, 2023 Armada Hoffler Properties, Inc. announced that they will report Q3, 2023 results at 6:00 AM, US Eastern Standard Time on Nov 02, 2023 Upcoming Dividend • Sep 19
Upcoming dividend of US$0.20 per share at 7.0% yield Eligible shareholders must have bought the stock before 26 September 2023. Payment date: 05 October 2023. Trailing yield: 7.0%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (6.1%). Announcement • Sep 16
Armada Hoffler Declares the Cash Dividend for the Third Quarter of 2023, Payable on October 5, 2023 Armada Hoffler announced that its Board of Directors declared the cash dividend of $0.195 per common share for the third quarter of 2023. The third quarter dividend will be paid in cash on October 5, 2023, to stockholders of record on September 27, 2023. New Risk • Aug 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.0% Last year net profit margin: 10% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.0% net profit margin). Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: US$0.17 (vs US$0.31 in 2Q 2022) Second quarter 2023 results: EPS: US$0.17 (down from US$0.31 in 2Q 2022). Revenue: US$165.9m (up 65% from 2Q 2022). Net income: US$11.7m (down 45% from 2Q 2022). Profit margin: 7.1% (down from 21% in 2Q 2022). Revenue is forecast to decline by 37% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Armada Hoffler Properties, Inc. to Report Q2, 2023 Results on Aug 03, 2023 Armada Hoffler Properties, Inc. announced that they will report Q2, 2023 results at 6:00 AM, US Eastern Standard Time on Aug 03, 2023 Upcoming Dividend • Jun 20
Upcoming dividend of US$0.20 per share at 6.2% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 06 July 2023. Trailing yield: 6.2%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (5.4%). Announcement • Jun 16
Armada Hoffler Properties, Inc. (NYSE:AHH) announces an Equity Buyback. Armada Hoffler Properties, Inc. (NYSE:AHH) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of common stock and Series A preferred stock. Announcement • May 23
Armada Hoffler Properties, Inc. (NYSE:AHH) completed the acquisition of The Interlock from SJC Ventures, LLC. Armada Hoffler Properties, Inc. (NYSE:AHH) agreed to acquire The Interlock from SJC Ventures, LLC for approximately $220 million on May 4, 2023. The Armada expects to finance the Interlock Acquisition using $100 million of new fixed-rate financing, primarily through a $75 million unsecured term loan, the conversion of its existing mezzanine loan into equity. The Interlock acquisition is subject to customary closing conditions, and the Armada expects to close the Interlock acquisition during the second quarter of 2023.
Armada Hoffler Properties, Inc. (NYSE:AHH) completed the acquisition of The Interlock from SJC Ventures, LLC on May 22, 2023. The transaction is immediately accretive. Announcement • May 10
Armada Hoffler Properties, Inc. Declares Quarterly Cash Dividend The Board of Directors of Armada Hoffler Properties, Inc. declared a cash dividend of $0.195 per common share, representing a 3% increase over the prior quarter's dividend. Reported Earnings • May 09
First quarter 2023 earnings released: EPS: US$0.035 (vs US$0.11 in 1Q 2022) First quarter 2023 results: EPS: US$0.035 (down from US$0.11 in 1Q 2022). Revenue: US$144.2m (up 82% from 1Q 2022). Net income: US$2.38m (down 67% from 1Q 2022). Profit margin: 1.6% (down from 9.0% in 1Q 2022). Revenue is expected to decline by 30% p.a. on average during the next 2 years, while revenues in the REITs industry in Europe are expected to grow by 2.7%. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 06
Armada Hoffler Properties, Inc. (NYSE:AHH) agreed to acquire The Interlock from SJC Ventures, LLC for approximately $220 million. Armada Hoffler Properties, Inc. (NYSE:AHH) agreed to acquire The Interlock from SJC Ventures, LLC for approximately $220 million on May 4, 2023. The Armada expects to finance the Interlock Acquisition using $100 million of new fixed-rate financing, primarily through a $75 million unsecured term loan, the conversion of its existing mezzanine loan into equity. The Interlock acquisition is subject to customary closing conditions, and the Armada expects to close the Interlock acquisition during the second quarter of 2023. Buying Opportunity • Apr 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 4.5%. The fair value is estimated to be €13.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to decline by 27% per annum. Earnings is also forecast to decline by 36% per annum over the same time period. Upcoming Dividend • Mar 21
Upcoming dividend of US$0.19 per share at 6.5% yield Eligible shareholders must have bought the stock before 28 March 2023. Payment date: 06 April 2023. Trailing yield: 6.5%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (5.1%). Buying Opportunity • Mar 14
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 2.7%. The fair value is estimated to be €14.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 22%. For the next 3 years, revenue is forecast to decline by 22% per annum. Earnings is also forecast to decline by 34% per annum over the same time period. Reported Earnings • Feb 15
Full year 2022 earnings released: EPS: US$1.22 (vs US$0.17 in FY 2021) Full year 2022 results: EPS: US$1.22 (up from US$0.17 in FY 2021). Revenue: US$454.2m (up 60% from FY 2021). Net income: US$82.5m (up US$72.1m from FY 2021). Profit margin: 18% (up from 3.6% in FY 2021). Revenue is expected to decline by 28% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to grow by 4.1%. Announcement • Jan 10
Armada Hoffler Properties, Inc. to Report Q4, 2022 Results on Feb 14, 2023 Armada Hoffler Properties, Inc. announced that they will report Q4, 2022 results at 6:00 AM, US Eastern Standard Time on Feb 14, 2023 Upcoming Dividend • Dec 20
Upcoming dividend of US$0.19 per share Eligible shareholders must have bought the stock before 27 December 2022. Payment date: 05 January 2023. Trailing yield: 6.5%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (5.6%). Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Independent Director Dennis Gartman was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 09
Third quarter 2022 earnings released: EPS: US$0.50 (vs US$0.059 in 3Q 2021) Third quarter 2022 results: EPS: US$0.50 (up from US$0.059 in 3Q 2021). Revenue: US$122.8m (up 83% from 3Q 2021). Net income: US$33.9m (up US$30.3m from 3Q 2021). Profit margin: 28% (up from 5.4% in 3Q 2021). Revenue is expected to decline by 9.2% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to grow by 4.7%. Upcoming Dividend • Sep 20
Upcoming dividend of US$0.19 per share Eligible shareholders must have bought the stock before 27 September 2022. Payment date: 06 October 2022. Trailing yield: 6.0%. Within top quartile of German dividend payers (5.0%). Higher than average of industry peers (5.2%). Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: US$0.45 (vs US$0.069 in 2Q 2021) Second quarter 2022 results: EPS: US$0.45 (up from US$0.069 in 2Q 2021). Revenue: US$100.5m (up 53% from 2Q 2021). Net income: US$30.6m (up US$26.5m from 2Q 2021). Profit margin: 31% (up from 6.3% in 2Q 2021). Over the next year, revenue is forecast to decline by 30% while the industry in Germany is not expected to grow. Upcoming Dividend • Jun 21
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 28 June 2022. Payment date: 07 July 2022. Trailing yield: 5.4%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (4.7%). Reported Earnings • May 04
First quarter 2022 earnings released: EPS: US$0.15 (vs US$0.039 in 1Q 2021) First quarter 2022 results: EPS: US$0.15 (up from US$0.039 in 1Q 2021). Revenue: US$79.3m (down 2.5% from 1Q 2021). Net income: US$9.29m (up 302% from 1Q 2021). Profit margin: 12% (up from 2.8% in 1Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to decline by 22% while the industry in Germany is not expected to grow. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Independent Director Dorothy McAuliffe was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 22
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 29 March 2022. Payment date: 07 April 2022. Trailing yield: 4.5%. Within top quartile of German dividend payers (3.6%). Higher than average of industry peers (1.7%). 
