ReutersReuters

Armada Hoffler Q2 net income rises

RefinitivBacaan 1 minit

Overview

  • Armada Hoffler Q2 net income rises significantly

  • Company's FFO and Normalized FFO decline yr/yr due to increased interest expenses

  • Armada Hoffler maintains 2025 full-year Normalized FFO guidance

Outlook

  • Company maintains 2025 full-year Normalized FFO guidance at $1.00 to $1.10 per share

  • Company expects full-year 2025 Portfolio NOI between $173.6 mln and $176.0 mln

  • Company projects full-year 2025 Construction Segment Gross Profit of $5.0 mln to $7.0 mln

  • Company anticipates full-year 2025 Interest Income of $15.3 mln to $16.3 mln

Result Drivers

  • CONSOLIDATION GAIN - Net income increased due to a $6.9 mln gain from consolidating the Harbor Point Parcel 4 project

  • FFO DECLINE - Year-over-year decrease in FFO due to lower gross profit from contracting services, higher interest expenses, and losses from unconsolidated entities

  • POSITIVE LEASING SPREADS - Positive office and retail releasing spreads contributed to the quarter's performance

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 EPS

$0.04

Q2 Net Income

$3.90 mln

Q2 FFO

Beat

$19 mln

$0.26 (5 Analysts)

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 16.4% above its August 1 closing price of $6.69

  • The stock recently traded at 71 times the next 12-month earnings vs. a P/E of 55 three months ago

Press Release:

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