Armada Hoffler Properties Full Year 2023 Earnings: Misses Expectations
Armada Hoffler Properties (NYSE:AHH) Full Year 2023 Results
Key Financial Results
Revenue: US$667.2m (up 47% from FY 2022).
Funds from operations (FFO): US$90.7m (down 15% from FY 2022).
FFO margin: 14% (down from 24% in FY 2022). The decrease in margin was driven by higher expenses.
FFO per share: US$1.0 (down from US$1.58 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Armada Hoffler Properties Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 118%.
Looking ahead, revenue is expected to decline by 33% p.a. on average during the next 3 years, while revenues in the REITs industry in the US are expected to grow by 3.8%.
Performance of the American REITs industry.
The company's shares are down 6.8% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 2 warning signs for Armada Hoffler Properties you should be aware of, and 1 of them makes us a bit uncomfortable.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
