Armada Hoffler Properties
Market Cap
US$881.0m
Last Updated
2020/11/26 23:55 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 37.3% per year for the next 3 years
Snowflake Analysis
Fair value with acceptable track record.
Similar Companies
Share Price & News
How has Armada Hoffler Properties's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: AHH is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.
Volatility Over Time: AHH's weekly volatility (8%) has been stable over the past year.
Market Performance
7 Day Return
5.6%
AHH
0.1%
US REITs
2.1%
US Market
1 Year Return
-38.2%
AHH
-8.6%
US REITs
19.8%
US Market
Return vs Industry: AHH underperformed the US REITs industry which returned -8.8% over the past year.
Return vs Market: AHH underperformed the US Market which returned 19.7% over the past year.
Shareholder returns
| AHH | Industry | Market | |
|---|---|---|---|
| 7 Day | 5.6% | 0.1% | 2.1% |
| 30 Day | 33.4% | 8.6% | 8.1% |
| 90 Day | 8.3% | 2.6% | 6.0% |
| 1 Year | -35.1%-38.2% | -4.8%-8.6% | 22.5%19.8% |
| 3 Year | -15.5%-27.6% | 18.5%4.5% | 46.5%36.8% |
| 5 Year | 31.4%0.4% | 50.7%20.4% | 96.9%75.3% |
Long-Term Price Volatility Vs. Market
How volatile is Armada Hoffler Properties's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
Broker Revenue Forecasts For Armada Hoffler Properties, Inc. (NYSE:AHH) Are Surging Higher1 month ago | Simply Wall St
Armada Hoffler Properties, Inc. (NYSE:AHH) Insiders Increased Their Holdings1 month ago | Simply Wall St
Is Armada Hoffler Properties, Inc.'s (NYSE:AHH) 6.4% ROE Better Than Average?Valuation
Is Armada Hoffler Properties undervalued compared to its fair value and its price relative to the market?
1.0%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: AHH ($11.18) is trading below our estimate of fair value ($11.29)
Significantly Below Fair Value: AHH is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: AHH is good value based on its PE Ratio (24.2x) compared to the US REITs industry average (38.3x).
PE vs Market: AHH is poor value based on its PE Ratio (24.2x) compared to the US market (19.7x).
Price to Earnings Growth Ratio
PEG Ratio: AHH's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: AHH is good value based on its PB Ratio (1.5x) compared to the US REITs industry average (1.6x).
Next Steps
Future Growth
How is Armada Hoffler Properties forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
-37.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AHH's earnings are forecast to decline over the next 3 years (-37.3% per year).
Earnings vs Market: AHH's earnings are forecast to decline over the next 3 years (-37.3% per year).
High Growth Earnings: AHH's earnings are forecast to decline over the next 3 years.
Revenue vs Market: AHH's revenue is expected to decline over the next 3 years (-17.9% per year).
High Growth Revenue: AHH's revenue is forecast to decline over the next 3 years (-17.9% 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
Next Steps
Past Performance
How has Armada Hoffler Properties performed over the past 5 years?
-5.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AHH has high quality earnings.
Growing Profit Margin: AHH's current net profit margins (9.6%) are lower than last year (12.4%).
Past Earnings Growth Analysis
Earnings Trend: AHH's earnings have declined by 5.9% per year over the past 5 years.
Accelerating Growth: AHH's earnings growth over the past year (29%) exceeds its 5-year average (-5.9% per year).
Earnings vs Industry: AHH earnings growth over the past year (29%) exceeded the REITs industry 2%.
Return on Equity
High ROE: AHH's Return on Equity (5.3%) is considered low.
Next Steps
Financial Health
How is Armada Hoffler Properties's financial position?
Financial Position Analysis
Short Term Liabilities: AHH's short term assets ($318.1M) exceed its short term liabilities ($20.7M).
Long Term Liabilities: AHH's short term assets ($318.1M) do not cover its long term liabilities ($1.1B).
Debt to Equity History and Analysis
Debt Level: AHH's debt to equity ratio (119.8%) is considered high.
Reducing Debt: AHH's debt to equity ratio has reduced from 224.8% to 119.8% over the past 5 years.
Debt Coverage: AHH's debt is not well covered by operating cash flow (10%).
Interest Coverage: AHH's interest payments on its debt are well covered by EBIT (4.8x coverage).
Balance Sheet
Next Steps
Dividend
What is Armada Hoffler Properties's current dividend yield, its reliability and sustainability?
3.94%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: AHH's dividend (3.94%) is higher than the bottom 25% of dividend payers in the US market (1.47%).
High Dividend: AHH's dividend (3.94%) is low compared to the top 25% of dividend payers in the US market (4.05%).
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 has only been paying a dividend for 7 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (71.5%), 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 well covered by earnings (48.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.8yrs
Average management tenure
CEO
Lou Haddad (62 yo)
8.83yrs
Tenure
US$2,129,182
Compensation
Mr. Louis S. Haddad, also known as Lou, serves as Vice Chairman of Armada Hoffler Properties, Inc., and its President and Chief Executive Officer since 2012 also its Director since 2013. Mr. Haddad has vas...
CEO Compensation Analysis
Compensation vs Market: Lou's total compensation ($USD2.13M) is about average for companies of similar size in the US market ($USD2.56M).
Compensation vs Earnings: Lou's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman of the Board | 7.5yrs | US$550.61k | 6.35% $ 55.9m | |
| Vice Chairman | 8.83yrs | US$2.13m | 3.03% $ 26.7m | |
| CFO, Treasurer & Secretary | 8.83yrs | US$1.02m | 0.27% $ 2.4m | |
| President of Construction | no data | US$714.33k | 0.37% $ 3.3m | |
| President of Asset Management | 8.83yrs | US$681.91k | 0.13% $ 1.1m | |
| Chief Operating Officer | 1.25yrs | no data | 0.013% $ 117.8k | |
| Executive Vice President of Construction & Business Development | no data | no data | no data | |
| Executive Vice President of Construction | no data | no data | no data | |
| Executive Vice President of Construction | 13.83yrs | no data | no data | |
| Executive Vice President of Development | no data | no data | no data |
8.8yrs
Average Tenure
60yo
Average Age
Experienced Management: AHH's management team is seasoned and experienced (8.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman of the Board | 7.5yrs | US$550.61k | 6.35% $ 55.9m | |
| Vice Chairman | 8.83yrs | US$2.13m | 3.03% $ 26.7m | |
| Independent Director | no data | US$78.83k | 0.24% $ 2.1m | |
| Director | 7.5yrs | US$176.21k | 1.58% $ 13.9m | |
| Independent Director | 7.5yrs | US$76.33k | 0.027% $ 235.7k | |
| Lead Independent Director | no data | US$85.08k | 0.053% $ 465.8k | |
| Independent Director | 5.67yrs | US$76.33k | 0.017% $ 146.9k | |
| Independent Director | 7.5yrs | US$80.08k | 0.032% $ 284.6k | |
| Independent Director | 1.17yrs | US$12.50k | 0.0040% $ 35.1k |
7.5yrs
Average Tenure
69yo
Average Age
Experienced Board: AHH's board of directors are considered experienced (7.5 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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.9%.
Top Shareholders
Company Information
Armada Hoffler Properties, Inc.'s company bio, 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
- Market Cap: US$880.979m
- Shares outstanding: 78.80m
- 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| AHH | NYSE (New York Stock Exchange) | Yes | New Common Stock | US | USD | May 2013 |
| 791 | DB (Deutsche Boerse AG) | Yes | New Common Stock | DE | EUR | May 2013 |
| AHH.PRA | NYSE (New York Stock Exchange) | 6.75% CUM PFD A | US | USD | Jun 2019 |
Biography
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...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/11/26 23:55 |
| End of Day Share Price | 2020/11/25 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.