Mixed-use REIT Armada Hoffler net loss narrows amid positive leasing

Overview

• Armada Hoffler Q3 net loss narrows to $3.6 mln from $10.4 mln last year

• FFO for Q3 beats analyst expectations, reaching $20.2 mln

• Normalized FFO for Q3 declines to $29.6 mln from $31.4 mln last year

Outlook

• Company maintains 2025 full-year Normalized FFO guidance at $1.03 to $1.07 per share

• Company expects Southern Post Retail to stabilize in 4Q25

• Company plans acquisition of one real estate financing asset in 4Q25

Result Drivers

• LEASING ACTIVITY - Executed 25 renewals and 7 new leases totaling 270,000 sq ft, contributing to stable occupancy

• OCCUPANCY RATES - Maintained high occupancy rates: retail at 96.0%, office at 96.5%, multifamily at 94.2%

• POSITIVE LEASING SPREADS - Achieved positive leasing spreads across all segments, notably 21.6% in office (GAAP)

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the diversified reits peer group is "buy"

• Wall Street's median 12-month price target for Armada Hoffler Properties Inc is $8.00, about 18.3% above its October 31 closing price of $6.54

• The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 75 three months ago

Press Release:

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