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AHH

Armada Hoffler PropertiesNYSE:AHH Stock Report

Last Price

US$13.63

Market Cap

US$1.2b

7D

-4.6%

1Y

18.4%

Updated

21 Jan, 2022

Data

Company Financials +
AHH fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance1/6
Financial Health2/6
Dividends4/6

AHH Stock Overview

Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States.

Armada Hoffler Properties Competitors

One Liberty Properties

NYSE:OLP

US$639.0m

National Storage Affiliates Trust

NYSE:NSA

US$7.3b

Agree Realty

NYSE:ADC

US$4.9b

CareTrust REIT

NasdaqGS:CTRE

US$2.1b

Price History & Performance

Summary of all time highs, changes and price drops for Armada Hoffler Properties
Historical stock prices
Current Share PriceUS$13.63
52 Week HighUS$15.80
52 Week LowUS$10.62
Beta0.82
1 Month Change-10.45%
3 Month Change2.10%
1 Year Change18.42%
3 Year Change-6.07%
5 Year Change-2.99%
Change since IPO17.70%

Recent News & Updates

Oct 26

Armada Hoffler Properties: Strong Industry Dynamics Coupled With Strong Management Indicate Upside Potential

AHH has a very high-quality portfolio that we believe is seen through their strong occupancy levels currently at 94.1%. We believe going forward AHH's occupancy levels should continue to rise as more and more students return to school in person. We believe AHH represents an attractive investment opportunity backed by decades of experience in the industry by management.

Shareholder Returns

AHHUS REITsUS Market
7D-4.6%-4.4%-4.0%
1Y18.4%24.7%6.6%

Return vs Industry: AHH underperformed the US REITs industry which returned 24.7% over the past year.

Return vs Market: AHH exceeded the US Market which returned 6.6% over the past year.

Price Volatility

Is AHH's price volatile compared to industry and market?
AHH volatility
AHH Average Weekly Movement4.2%
REITs Industry Average Movement4.0%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

Stable Share Price: AHH is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: AHH's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2012158Lou Haddadhttps://www.armadahoffler.com

Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes.

Armada Hoffler Properties Fundamentals Summary

How do Armada Hoffler Properties's earnings and revenue compare to its market cap?
AHH fundamental statistics
Market CapUS$1.19b
Earnings (TTM)US$11.44m
Revenue (TTM)US$312.66m

104.2x

P/E Ratio

3.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AHH income statement (TTM)
RevenueUS$312.66m
Cost of RevenueUS$187.58m
Gross ProfitUS$125.08m
ExpensesUS$113.65m
EarningsUS$11.44m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 10, 2022

Earnings per share (EPS)0.13
Gross Margin40.01%
Net Profit Margin3.66%
Debt/Equity Ratio127.9%

How did AHH perform over the long term?

See historical performance and comparison

Dividends

5.0%

Current Dividend Yield

72%

Payout Ratio

Valuation

Is Armada Hoffler Properties undervalued compared to its fair value and its price relative to the market?

39.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AHH ($13.63) is trading below our estimate of fair value ($22.66)

Significantly Below Fair Value: AHH is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AHH is poor value based on its PE Ratio (104.2x) compared to the US REITs industry average (44.2x).

PE vs Market: AHH is poor value based on its PE Ratio (104.2x) compared to the US market (16.7x).


Price to Earnings Growth Ratio

PEG Ratio: AHH is poor value based on its PEG Ratio (4x)


Price to Book Ratio

PB vs Industry: AHH is overvalued based on its PB Ratio (3.3x) compared to the US REITs industry average (2x).


Future Growth

How is Armada Hoffler Properties forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

26.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AHH's forecast earnings growth (26.3% per year) is above the savings rate (2%).

Earnings vs Market: AHH's earnings (26.3% per year) are forecast to grow faster than the US market (13.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: AHH's revenue is expected to decline over the next 3 years (-6.2% per year).

High Growth Revenue: AHH's revenue is forecast to decline over the next 3 years (-6.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if AHH's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Armada Hoffler Properties performed over the past 5 years?

-4.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AHH has high quality earnings.

Growing Profit Margin: AHH's current net profit margins (3.7%) are lower than last year (7%).


Past Earnings Growth Analysis

Earnings Trend: AHH's earnings have declined by 4.7% per year over the past 5 years.

Accelerating Growth: AHH's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AHH had negative earnings growth (-55.4%) over the past year, making it difficult to compare to the REITs industry average (30.5%).


Return on Equity

High ROE: AHH's Return on Equity (3.5%) is considered low.


Financial Health

How is Armada Hoffler Properties's financial position?


Financial Position Analysis

Short Term Liabilities: AHH's short term assets ($265.4M) exceed its short term liabilities ($86.6M).

Long Term Liabilities: AHH's short term assets ($265.4M) do not cover its long term liabilities ($1.1B).


Debt to Equity History and Analysis

Debt Level: AHH's net debt to equity ratio (124.1%) is considered high.

Reducing Debt: AHH's debt to equity ratio has reduced from 165.6% to 127.9% over the past 5 years.

Debt Coverage: AHH's debt is not well covered by operating cash flow (9.5%).

Interest Coverage: AHH's interest payments on its debt are not well covered by EBIT (2.7x coverage).


Balance Sheet


Dividend

What is Armada Hoffler Properties's current dividend yield, its reliability and sustainability?

4.99%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AHH's dividend (4.99%) is higher than the bottom 25% of dividend payers in the US market (1.36%).

High Dividend: AHH's dividend (4.99%) is in the top 25% of dividend payers in the US market (3.55%)


Stability and Growth of Payments

Stable Dividend: AHH has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: AHH's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (71.9%), AHH's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AHH's dividends in 3 years are forecast to be covered by earnings (65% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

10.0yrs

Average management tenure


CEO

Lou Haddad (63 yo)

10yrs

Tenure

US$1,991,076

Compensation

Mr. Louis S. Haddad, also known as Lou, serves as Vice Chairman of Armada Hoffler Properties, Inc since 2019 and its President and Chief Executive Officer since 2012 also its Director since 2013. Mr. Hadda...


CEO Compensation Analysis

Compensation vs Market: Lou's total compensation ($USD1.99M) is about average for companies of similar size in the US market ($USD2.38M).

Compensation vs Earnings: Lou's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: AHH's management team is seasoned and experienced (10 years average tenure).


Board Members

Experienced Board: AHH's board of directors are considered experienced (8.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10.9%.


Top Shareholders

Company Information

Armada Hoffler Properties, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Armada Hoffler Properties, Inc.
  • Ticker: AHH
  • Exchange: NYSE
  • Founded: 2012
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.192b
  • Market Cap: US$910.475m
  • Shares outstanding: 87.42m
  • Website: https://www.armadahoffler.com

Number of Employees


Location

  • Armada Hoffler Properties, Inc.
  • 222 Central Park Avenue
  • Suite 2100
  • Virginia Beach
  • Virginia
  • 23462
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/21 23:53
End of Day Share Price2022/01/21 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.