AHH
Armada Hoffler Properties Inc
Armada Hoffler Properties Inc
$AHH reports Q1 2023 results with 5% increase in same-store NOI and acquisition of Interlock in Atlanta
Real estate investment trust Armada Hoffler Properties reported strong Q1 2023 results, with same-store net operating income up 4% on a GAAP basis and 5% on a cash basis. The acquisition of Interlock in West Midtown Atlanta for $215 million helped, as did a 2.9% dividend hike, and the company beat pre-pandemic levels. Non-GAAP financial measures showed that Armada Hoffler's normalized FFO was a more useful performance measure, excluding certain items to capture the trends in operating performance. The CEO expressed confidence in the overall performance, but investors should continue monitoring closely given the uncertainty of the ongoing pandemic on the market.
19d ago
$AHH