Armada Hoffler Reports Fourth Quarter and Full Year 2022 Results
Retrieved on:
Tuesday, February 14, 2023
Pembroke Square, SOFR, NOI, Thames Street, Anderson Towne Center, Increase, OP, Rate, NYSE, Armada Hoffler Tower, BBB, GAAP, Sale, Recollections of Full Years, Morgan Stanley, Growth, Asset-backed security, Town Center, FFO, Rare-earth element, Cryptocurrency, Self storage, Bank, Commercial property, Security (finance), Real estate, Normalization
VIRGINIA BEACH, Va., Feb. 14, 2023 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) today announced its results for the quarter and year ended December 31, 2022 and provided an update on current events.
Key Points:
- Normalized FFO of $0.35 per Diluted Share for the Fourth Quarter and $1.22 per Diluted Share for the Full Year, Representing a 13% Year-Over-Year Increase
VIRGINIA BEACH, Va., Feb. 14, 2023 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) today announced its results for the quarter and year ended December 31, 2022 and provided an update on current events. - Introduced 2023 full-year Normalized FFO guidance of $1.23 to $1.27 per diluted share, with the mid-point of the range representing a moderate increase over 2022 actual results.
- Positive renewal spreads during the fourth quarter across all segments:
Lease rates on fourth quarter office lease renewals increased 6.1% on a GAAP basis and 1.9% on a cash basis. - Lease rates on fourth quarter retail lease renewals increased 10.3% on a GAAP basis and 5.4% on a cash basis.